CVC Capital Partners-backed home insurer Bamboo Insurance has postponed its planned US initial public offering, according to a report by Bloomberg citing unnamed people familiar with the matter, in a setback for the PE firm’s potential exit from the business.
Bamboo, which is based in Midvale, Utah, cited prevailing market conditions as the reason for delaying the listing, the sources said. The IPO could be revived at a later date, although no new timetable has been disclosed.
CVC and Bamboo reportedly did not immediately comment on the decision.
The proposed flotation would have seen Bamboo listed on the New York Stock Exchange under the ticker BMB, with JPMorgan and Morgan Stanley acting as lead underwriters. The offering was expected to target a valuation of around $700 million, according to reports earlier this month.
Bamboo was founded in 2018 and was valued at approximately $1.75bn last year when funds advised by CVC acquired a controlling interest from White Mountains Insurance Group.
The postponement comes despite a relatively strong year for US IPO activity. Companies have raised $161.4bn through US listings so far in 2026, excluding blank-cheque companies and other financial vehicles, according to Bloomberg data, putting issuance on course for its highest annual volume since 2021.
However, aftermarket performance has been uneven, with five of the 10 largest US IPOs of the year trading below their offer prices. New listings have generated a weighted average gain of 13%, compared with a roughly 15% advance for the S&P 500 over the same period.
The insurance sector has also provided mixed signals for prospective issuers. Specialty homeowners and flood insurer Orion180 raised $240 million in its IPO last week, but its shares have subsequently traded below their listing price.
