Bamboo is a managing general underwriter specializing in residential homeowners insurance in the United States, operating primarily in California and Texas. Bamboo manages policy underwriting, distribution, and claims administration, while partner insurance carriers and global reinsurers bear the underlying balance sheet risk. Bamboo distributes homeowners insurance through independent insurance agents, carrier partner networks, and embedded digital point-of-sale channels. Through Bamboo Agency, Bamboo also distributes supplementary third-party insurance products, including earthquake, flood, and renters coverage. Bamboo operates through two segments: MGU and Bamboo Captive. Bamboo generates most of its revenue from commissions paid by carrier partners based on premiums written and underwriting performance, alongside policyholder and processing fees. Bamboo Captive historically retained modest quota-share risk, but Bamboo focuses on a capital-light model where revenue scales with managed premium growth, policy retention, and geographic expansion into new state markets.