Bamboo Ide8 Insurance Services, LLC, a data-driven insurance distribution platform, has completed a multi-year deal through Greenshoots Re, the first MGA-sponsored sidecar to support Bamboo’s new California recognition program with MS Transverse.
In April 2025, when Bamboo became part of White Mountains Insurance Group, Ltd., MGA’s reinsurance renewals included the reinsurance Sidecar transaction through Greenshoots Re, a $70 million deal to provide catastrophe insurance for business underwritten by Bamboo on behalf of P&C insurer Sutton National.
Greenshoots Re was used to underwrite an E&S scheme launched in conjunction with specialist insurer Accredited later this year, but the size of the deal was not disclosed.
Following its latest sidecar transaction in support of the MS Transverse programme, Greenshoots Re now provides fully collateralized reinsurance to four frontline carriers in the Bamboo programme, increasing total financing to approximately $175 million.
The company confirmed that each investor in each Sidecar transaction in the Greenshoots Re facility is committed to providing Bamboo and its operator partners with “durable, forward capability throughout the underwriting cycle” on a multi-year basis.
John Chu, CEO of Bamboo, said: “Greenshoots Re is designed to be a long-term strategic capital vehicle. Welcoming a fourth operator partner to the platform further proves this thesis: new partners see the value in the platform, while existing partners will continue to grow with the platform. With a valuation of approximately $175 million, and with four leading operators and multi-year commitments from each investor, Greenshoots Re has become the kind of durable, differentiated capacity franchise we intend to create.”
For the sidecar transaction, GC Securities, a subsidiary of MMC Securities LLC, acted as exclusive structuring agent and exclusive placement agent, and Willkie Farr & Gallagher LLP acted as transaction advisor.
Liam Martens, Managing Director at GC Securities, said: “We are proud to support Bamboo in another Sidecar issuance. We continue to see strong investor interest in Bamboo’s underwriting platform and Greenshoots Re franchise. Bamboo has created a business and reinsurance capability model that is unique among its peers and we look forward to working with them to drive the continued development of the Greenshoots Re franchise.”
