Bamboo Ide8 Insurance Services, LLC, a data-enabled insurance distribution platform, has completed a multi-year transaction through Greenshoots Re, the first MGA-sponsored sidecar, which supports Bamboo’s new California admitted programme with MS Transverse.
In April 2025, when Bamboo was part of White Mountains Insurance Group, Ltd., the MGA’s reinsurance renewal included a reinsurance sidecar transaction via Greenshoots Re, a $70 million transaction that provides catastrophe cover for business written by Bamboo on behalf of P&C insurer Sutton National.
Later in the year, Greenshoots Re was leveraged to cover an E&S programme jointly launched with specialty insurer Accredited, although no size was given for this transaction.
Following this latest sidecar transaction supporting the MS Transverse programme, Greenshoots Re now provides fully collateralized reinsurance to four fronting carriers across Bamboo’s programmes, with the total facility growing to approximately $175 million.
The company confirms that every single investor across every sidecar transaction in the Greenshoots Re facility is committed on a multi-year basis, providing both Bamboo and its carrier partners with “durable, forward capacity through the underwriting cycle.”
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 approximately $175 million, with four fronting 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.”
For the sidecar transactions, GC Securities, a division of MMC Securities LLC, acted as the sole structuring agent and sole placement agent, and Willkie Farr & Gallagher LLP served as deal counsel.
“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,” said Liam Martens, Managing Director of GC Securities.
