White Mountains to Sell Bamboo to CVC for $1.75B

White Mountains Insurance Group agreed to sell its controlling interest in homeowners’ insurance distribution platform Bamboo to funds advised by CVC Capital Partners, valuing the company at $1.75 billion. The deal is expected to generate roughly $840 million in net cash and add about $310 to White Mountains’ book value per share, and the company said the transaction is not contingent on financing. Post-closing, White Mountains will retain roughly a 15% fully diluted stake in Bamboo valued at about $250 million; Bamboo operates as a data-enabled underwriting and distribution platform serving California and Texas. The transaction is expected to close by year-end, though the company said it could close by the end of the fourth quarter of 2025 and remains subject to regulatory approvals and customary closing conditions. White Mountains shares rose after the announcement.