Bamboo expands Greenshoots facility to $175m
Bamboo Ide8 Insurance Services has closed a multi-year sidecar transaction through Greenshoots Re, expanding the facility to roughly $175 million.
The deal, which supports Bamboo’s new California admitted program with MS Transverse, marks the latest addition to what the firm calls the first MGA-sponsored sidecar.
In April 2025, when Bamboo was still part of White Mountains Insurance Group, the company’s reinsurance renewal included a sidecar via Greenshoots Re that issued $70 million in preference shares to a broad group of institutional investors.
A later transaction in September used the vehicle to cover an E&S program with specialty insurer Accredited, though no size was disclosed at the time.
Four fronting carriers, multi‑year investor commitments
With this latest closing, Greenshoots Re now provides fully collateralized reinsurance to four fronting carriers within Bamboo’s portfolio.
Bamboo said every investor across every sidecar transaction in the facility is committed on a multi‑year basis, giving the company and its carrier partners what it described as durable, forward capacity through the underwriting cycle.
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The sidecar structure, sponsored by an MGA rather than a traditional insurer, lets Bamboo tap institutional investors directly for reinsurance capacity. The firm said that model gives it more control over its underwriting cycle and reduces reliance on standard reinsurance markets. The fact that Greenshoots Re now serves those carriers and has kept all backers on multi‑year terms suggests the arrangement is proving resilient.
CEO sees long‑term strategic value
John Chu, CEO of Bamboo, said: “Greenshoots Re was built to be a long‑term strategic capital vehicle. Welcoming a fourth carrier partner to the platform is further proof of that thesis: new partners see the value of the platform, and existing partners continue to grow with it. At that size, with those carriers and every investor committed on a multi‑year basis, Greenshoots Re has become exactly the kind of durable, differentiated capacity franchise we set out to create.”
GC Securities, a division of MMC Securities LLC, acted as the sole structuring agent and sole placement agent for the sidecar transactions.
Willkie Farr & Gallagher LLP served as deal counsel.
Liam Martens, Managing Director of GC Securities, said: “We’re proud to have supported Bamboo on another sidecar issuance. We continue to see healthy investor interest in Bamboo’s underwriting platform and the Greenshoots Re franchise. Bamboo has created a business and reinsurance capacity model which is unique amongst their peers and we look forward to working with them on the continued evolution of the Greenshoots Re franchise.”
