Core Viewpoint - White Mountains Insurance Group has signed a definitive agreement to sell a controlling interest in Bamboo, a data-enabled insurance distribution platform, to CVC Capital Partners, valuing Bamboo at $1.75 billion [1]. Group 1: Transaction Details - The transaction is expected to generate a gain of approximately $310 million to White Mountains' book value per share and net cash proceeds of around $840 million [1]. - White Mountains will retain a 15% fully-diluted equity stake in Bamboo post-closing, valued at $250 million based on the transaction [1]. - The transaction is anticipated to close by the end of the fourth quarter of 2025, subject to regulatory approvals and customary closing conditions [4]. Group 2: Company Insights - Bamboo is described as a capital-light, tech- and data-enabled insurance distribution platform focused on homeowners' insurance in California and Texas, operating primarily through a full-service MGA business [6]. - Bamboo's business model includes managing the placement process for fronting and reinsurance partners, earning commissions based on volume and profitability [6]. - CVC views Bamboo as an optimal fit for its US portfolio due to its high growth, recurring revenue, and value to partners [4]. Group 3: Leadership Perspectives - White Mountains' CEO highlighted the rapid growth of Bamboo as a testament to its value and innovation in the homeowners' insurance market [2]. - Bamboo's CEO expressed gratitude for White Mountains' support and emphasized the milestone as a result of the team's dedication and hard work [4]. - White Mountains' M&A head noted the success of Bamboo during their ownership and the importance of partnering with talented management teams in the insurance sector [3].