California MGA Bamboo to bring captive back to Bermuda

California based MGA Bamboo Insurance is set to bring its captive insurance company back to Bermuda, undoing a previous redomestication under different owners, Captive Review has reported from the Bermuda Captive Conference.

Speaking at the Bermuda Captive Conference, Robert Regalado (pictured), senior vice president of reinsurance and corporate development at Bamboo, said the company’s captive was originally established in Bermuda in 2020 before being moved to a US domicile following Bamboo’s acquisition by White Mountains Insurance Group.

However, after Bamboo was acquired by private equity firm CVC Capital Partners in late 2025, removing the need to be domiciled in the US, the company opted to return the captive to Bermuda.

Regalado explained that the decision was driven by Bermuda’s ability to support the captive’s role across Bamboo’s multiple fronting and reinsurance relationships. He also cited the island’s flexibility and operational advantages as the firm enters its next phase of growth.

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