Willkie is advising Bamboo Ide8 Insurance Services, LLC, as well as selling equityholders, in connection with an approximately $285 million equity investment from White Mountains Insurance Group, Ltd.

On October 20, White Mountains announced that it entered into an agreement to acquire a majority stake in Bamboo, a managing general agent focused on the California homeowners insurance market. White Mountains expects to invest approximately $285 million, including primary capital to support Bamboo's growth, and to acquire approximately 70% of Bamboo basic shares outstanding.

Bamboo is a capital-light, tech- and data-enabled insurance distribution platform providing insurance offerings to the residential property market in California.

White Mountains is a Bermuda-domiciled financial services holding company traded on the New York Stock Exchange under the symbol WTM and on the Bermuda Stock Exchange under the symbol WTM.BH.

The Willkie team is led by partners Gregory Astrachan and Howard Block and includes associates Donald Casey and Margaret O'Brien.