Bishop Street Underwriters, part of the RedBird Capital Partners portfolio, has 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.
Chad Levine, CEO of Bishop Street, expressed excitement about the acquisition, told that Ethos Transactional’s team aligns well with Bishop Street’s focus on superior underwriting and data-driven strategies. With this acquisition, Bishop Street now has ten lines of business and over $300 mn in premium.
Navine Aggarwal, CEO of Ethos Specialty, highlighted the benefits of partnering with Bishop Street. He pointed out the opportunity to expand Ethos’ offerings, invest strategically, and better serve brokers and clients in the transactional liability space.
Mike Zabik, Partner at RedBird Capital, underscored Bishop Street’s strategy of integrating top-tier insurance providers under a unified platform, emphasizing the long-term growth potential and collaboration with Ethos.
This move follows other strategic developments by Bishop Street, including acquiring Conifer Insurance, investing in Verve Services, and forming partnerships with Skyward Specialty Insurance and Topsail Re.
