White Mountains Takes Majority Stake In Bamboo Ide8 Insurance Services
Portfolio Pulse from Akanksha Bakshi
White Mountains Insurance Group (WTM) has agreed to acquire a majority stake in Bamboo Ide8 Insurance Services, an MGA focused on the California homeowners insurance market. The investment is expected to be around $285 million, acquiring about 70% of Bamboo's basic shares. Bamboo's current management will continue to lead the business. The transaction is expected to close in Q1 2024.
October 20, 2023 | 2:11 pm
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White Mountains Insurance Group's acquisition of Bamboo Ide8 Insurance Services could potentially expand its market share in the California homeowners insurance market. The deal is expected to close in Q1 2024.
The acquisition of Bamboo Ide8 Insurance Services by White Mountains Insurance Group could potentially expand its market share in the California homeowners insurance market. This could lead to increased revenues and profitability for the company in the future, which could positively impact its stock price.
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