Bishop Street Underwriters, a portfolio company of RedBird Capital Partners, announced its plans to acquire Landmark Underwriting, a specialty MGA in the London Insurance market. Financial terms were not disclosed.
The M&A deal, pending regulatory approval from the UK’s Financial Conduct Authority, marks a strategic move for Bishop Street, backed by RedBird Capital Partners. RedBird manages $10 bn in assets, offering capital to high-growth companies.
Landmark, established in 2017, provides tailored (re)insurance products for brokers and clients worldwide. Its focus spans professional indemnity, property, directors and officers, general liability, and marine insurance. Known for its client-centric approach, Landmark operates from its London headquarters, with additional presence in the UK, Australia, Canada, and Europe.
Chad Levine, CEO of Bishop Street, highlighted Landmark’s expertise in niche markets as a strong addition to the company’s mission to deliver tailored solutions for a dynamic specialty marketplace. Sitki Gelmen, Landmark’s Co-Founder, expressed enthusiasm for the growth potential, emphasizing the partnership’s strategic benefits for expanding their underwriter team and innovative risk management offerings.
Landmark’s long-standing reputation for excellence and deep knowledge of niche markets complements Bishop Street’s mission to offer innovative solutions that can be tailored to meet the unique needs of an evolving specialty marketplace
Chad Levine, Chief Executive Officer of Bishop Street
Mike Zabik, Partner at RedBird Capital, noted the acquisition aligns with Bishop Street’s multi-jurisdictional growth strategy. He emphasized leveraging Bishop Street’s platform and distribution networks to drive growth across global markets.
This acquisition follows a series of strategic moves by Bishop Street, including the purchase of Ethos Specialty’s Transactional Liability unit, Conifer Insurance Services, and Ahoy!, alongside an investment in Verve Services and partnerships with Skyward Specialty Insurance and Topsail Re.
Bishop Street Underwriters partners with MGAs and niche underwriting teams to build a differentiated platform in the (re)insurance sector. Backed by RedBird’s expertise and network in financial services, Bishop Street aims to capitalize on industry growth opportunities while delivering specialized solutions.
In November, Bishop Street Underwriters acquired the Transactional Liability unit of Ethos Specialty.
Ethos Transactional specializes in managing transaction-related risks, offering products like Representations and Warranties (R&W) and Tax insurance.
Ethos Transactional’s team will remain unchanged, with most of their existing capacity providers staying onboard.
