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Bamboo Insurance taps $150 million for California homeowners capacity
The added admitted capacity targets constrained metro areas, with new policies and renewals starting July 17, 2026, and offering deductible tiers up to $10,000.
Bamboo Insurance has launched a partnership with MS Transverse Insurance Company to add about $150 million of admitted homeowners and dwelling fire capacity in California, the managing general underwriter said. The expansion is designed to reach regions where admitted insurer appetite has remained tight, including Los Angeles, San Diego, and San Francisco, where many homeowners and landlords have leaned on surplus lines coverage.
Bamboo said the new options are available statewide for new business and renewals with effective dates beginning July 17, 2026, distributed through its existing agent and partner network. The company also described the product design as focused on affordability and long-term sustainability, supported by more precise underwriting tools.
The new offerings include higher deductible tiers up to $10,000, mandatory water damage sublimits with flexible structures, and a claim-free discount that increases incrementally for sustained claim-free tenure. MS Transverse holds an A+ (Superior) AM Best financial strength rating, upgraded from A (Excellent) in June 2025 to align with its parent, Mitsui Sumitomo Insurance.
The announcement comes amid changes to California’s homeowners market tied to the state’s Sustainable Insurance Strategy reforms. Insurance Business noted that Proposition 103 reforms finalized in December 2024 allow admitted insurers to use forward-looking catastrophe models and reinsurance costs in rate filings, in exchange for expanding coverage in wildfire-distressed areas.