Bamboo Insurance Bolsters Capacity with MS Transverse Partnership
Bamboo Insurance has forged a strategic partnership with MS Transverse Insurance Company, significantly amplifying its capacity for admitted homeowners and dwelling fire insurance in California. This collaboration introduces approximately $150 million in new capacity and offers additional options designed to enhance affordability and flexibility, particularly in areas prone to natural disasters.
John Chu, CEO of Bamboo Insurance, highlighted the importance of this partnership in boosting both affordability and capacity within challenging markets. By expanding carrier relationships and employing advanced underwriting tools, Bamboo aims to provide competitive pricing while adhering to disciplined underwriting practices crucial for sustainability.
The new agreement expands Bamboo's admitted program offerings, unveiling flexible coverage structures that simplify access to admitted insurance products for homeowners. Enhanced underwriting segments and structured options enable personalized risk selection, featuring high deductible options up to $10,000 and tiered water damage sublimits.
Additionally, the partnership introduces a new claim-free discount structure, rewarding policyholders who maintain a claim-free status over time. This strategic enhancement strengthens Bamboo’s position within the Difference in Conditions (DIC) and admitted homeowners’ markets, offering greater flexibility and empowering agents to secure placements within admitted markets rather than surplus lines.
As the California homeowners insurance market contends with rising reconstruction costs and increased catastrophe exposure, the additional capacity and refined underwriting methods offered by the partnership are timely. "MS Transverse enhances our capabilities to operate in difficult markets while providing more adaptable pricing options for agents and their customers," stated Chu.
The expanded capacity will be accessible statewide for new and renewal policies from July 17, 2026. These offerings will be distributed through Bamboo Insurance’s network of agents and partners, remaining subject to comprehensive underwriting guidelines, eligibility criteria, and regulatory approvals.
Bamboo Insurance positions itself as a tech-enabled managing general underwriter, emphasizing homeowners’ coverage with a focus on AI integration in underwriting, claims, and distribution. It collaborates with a network of reputable insurance and reinsurance capacity providers, utilizing a partner-centric distribution approach that supports efficient expansion.