Bamboo Insurance acquires assets of First American P&C Insurance agency
CA-based Bamboo Insurance has acquired certain of the assets of First American Property and Casualty Insurance Agency from parent company First American Financial Corporation, a provider of title insurance, settlement services and risk solutions.
First American announced in October 2020 its intent to exit its property and casualty business and to maintain focus on its core business.
The assets acquired include over $22 million in premium in both personal and commercial lines underwritten by leading third-party carriers. FAPCIA’s staff will continue to provide service to policyholders as part of the Bamboo team.
“Today Bamboo begins a new chapter in its growth. Adding full-service personal and commercial lines agency capabilities allows us to offer additional products to a much broader set of customers across the continental United States.” – CEO John Chu.
Bamboo Insurance has historically offered flexible and transparent insurance options, including homeowners, dwelling fire and ancillary products in the state of California. Now, Bamboo’s new agency will be offering auto, renters, condominium, commercial lines, and a host of other insurance coverages alongside its existing products across the nation .