Bishop Street Underwriters

What Bishop Street Underwriters does

Bishop Street Underwriters is a multi-boutique managing general agent (MGA) platform founded in 2023 by former Aon Affinity and Guy Carpenter executives, with founding backing from private equity firm RedBird Capital Partners. The company acquires, incubates, and operates specialty insurance MGAs and provides them with carrier capacity, operational infrastructure, technology, and distribution; in February 2026, White Mountains Insurance Group completed a $125 million strategic structured capital investment, with White Mountains executives joining the board as a growth partner. The platform's portfolio spans at least eight specialty programs, including Aerospace Insurance Managers (general aviation, acquired July 2025), Avid Insurance (London complex and underserved niches, acquired October 2025), Conifer Insurance Services (cannabis, hospitality, food and beverage, acquired September 2024), Ethos Specialty's Transactional Liability unit (R&W and Tax, acquired November 2024), Landmark Underwriting (London Professional Indemnity, D&O, Property, Marine, acquired February 2025), FDean and Sports Underwriters (sports and event coverage), and a strategic equity stake in Verve Services (specialty personal auto). The company launched the Bishop Street Program Managers (BSPM) incubator in October 2025 to originate new MGAs internally with a stated 90-day time-to-market, and operates across the United States, United Kingdom, Australia, Canada, and Europe.

The platform's core technology is a cloud-based underwriting workbench enhanced by Kalepa's Professional Grade AI, which automates submission intake, risk triage, and rating and is deployed across both US and UK operations. Bishop Street monetizes through commission and fee income on gross written premium (GWP), platform services, and underwriting profit participation; pricing is quote-based and varies by program, coverage type, and risk profile. Capital is sourced from multiple carriers and reinsurers, with joint ventures or capacity agreements with Topsail Reinsurance, Skyward Specialty Insurance Group, and HDI Global Insurance Company supplementing the White Mountains structured capital. Distribution is multi-channel, spanning wholesale brokers, direct, retail, digital/embedded (including Verve), and sponsor channels. The company reported surpassing $650 million in 2025 GWP with a sub-50% portfolio loss ratio, and its stated strategic objective is to continue acquiring niche MGAs, expanding internationally, and launching de novo programs through BSPM.

Name

Bishop Street Underwriters

Legal name

Bishop Street Underwriters

Website

https://bishopstreetuw.com

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

1–10 employees

Short description

Bishop Street Underwriters is a multi-boutique MGA platform, founded in 2023 by former Aon and Guy Carpenter executives and backed by RedBird Capital and White Mountains, that acquires and incubates specialty insurance MGAs across aerospace, UK complex specialty, cannabis, transactional liability, sports, and personal auto, providing capacity, technology, and distribution to entrepreneurial underwriting teams.

Ownership category

akta.pro rank

Product category

Specialty Insurance MGA Platform

NAICS

Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Insurance Program Administration & MGA/MGU Services (FSAEADAK)

Keywords

• Specialty insurance underwriting
• Managing general agent
• Insurance MGA platform
• Niche insurance programs
• Specialty P&C insurance

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Supply Chain, Infrastructure

Revenue model

1. MGA Platform Fees and Premium-Based Revenue: As a managing general agent platform, Bishop Street earns revenue through underwriting premium generation across its acquired and managed programs. The platform provides infrastructure and capacity to MGAs in exchange for participation in premium and underwriting results.
2. Acquisition-Driven Growth: Company grows through acquiring MGAs, recruiting underwriting teams, and launching de novo programs, generating revenue through portfolio expansion and synergies across the MGA platform.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Bishop Street Underwriters is a multi-boutique insurance platform that acquires and partners with managing general agents (MGAs) and niche underwriting teams. It provides platform infrastructure, carrier and capital capacity, operational support, and AI-enabled technology to specialty insurance programs spanning aerospace, cannabis, hospitality, sports, professional liability, specialty auto, and complex London market risks. The company also operates the Bishop Street Program Managers (BSPM) incubator, which launches new specialty MGAs by providing back-office, capital, and carrier relationships.

Product overview

Bishop Street Underwriters operates as a multi-boutique MGA platform that partners with MGAs and niche underwriting teams, combining RedBird Capital Partners' financial services expertise with an experienced (re)insurance executive team. The platform provides infrastructure, technology, capacity management, and scalable operations to support a growing portfolio of specialty insurance programs. Core platform capabilities include capacity management with established carrier relationships, technology and data infrastructure enhanced with third-party AI tools, multi-channel distribution, and integrated portfolio management leveraging AI and analytics. The portfolio spans multiple specialized insurance segments: aerospace (AIM), complex specialty markets (Avid), cannabis and hospitality (Conifer), transactional liability (Ethos), sports and event coverage (FDean, Sports Underwriters), professional and specialty lines (Landmark), and specialty auto (Verve). The BSPM incubator program enables rapid launch of additional specialty MGAs.

Differentiator

Problem solved

Functional benefit

Brands

• Bishop Street Program Managers (BSPM): An incubator program designed to help entrepreneurial underwriters launch specialty MGAs by providing infrastructure, back-office capabilities, capital capacity, and insurer relationships
• Aerospace Insurance Managers (AIM)
• Conifer Insurance Services
• Ethos Specialty
• Avid Insurance
• Landmark Underwriting
• Verve
• FDean
• Sport Underwriters
• Sports Insurance

Products and services

• Aerospace Insurance Managers (AIM) General aviation insurance services provider offering coverage for commercial general aviation aircraft, private and public airports, fixed base operators, and other aviation businesses, distributed across 47 US states.
• Avid Insurance London-based niche multi-disciplined MGA providing specialized insurance solutions for complex and underserved markets including construction, social housing, leasehold, equine, motor sport, gadget, student contents, and travel insurance.
• Conifer Insurance Services Specialty commercial MGA providing coverage tailored for cannabis risks, restaurant/bar/tavern, liquor liability, food/beverage, independent auto dealers, repair shops, and towing.
• Ethos Specialty (Transactional Liability) Transactional liability insurance solutions including Representations and Warranties (R&W) and Tax insurance products for M&A and corporate transactions.
• FDean (F&D International) Sports and event insurance coverage provider offering sports and event participant coverage, spectator coverage, general liability for facilities and participants, and accident and medical coverage in the US.
• Landmark Underwriting London-based specialty MGA with deep expertise in Professional Indemnity, D&O, Property (Fac), PVT, GL, and Marine risks, writing through the London hub for policyholders across the globe.
• Sports Underwriters (SU) Sports and event insurance coverage provider offering sports and event participant coverage, spectator coverage, general liability for facilities and participants, and accident and medical coverage in US and Canada.
• Sports Insurance Sports insurance coverage offering for various sports and event scenarios.
• Verve Services Tech-enabled personal lines MGA focusing on specialty private passenger auto insurance.
• Bishop Street Program Managers (BSPM) MGA incubator program that partners with entrepreneurial underwriters to launch new specialty MGAs by providing infrastructure, back-office capabilities, capital capacity, and carrier relationships.

Quantifiable outcome

• Surpassed $650 million in gross written premium in 2025 with sub-50% portfolio loss ratio

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability3 records

Feature3 records

Partnerships

Four partnerships are on record, tiered core and major.

• HDI Global Insurance CompanycoreChannel Partner/ Reseller/ Distributor · 20 January 2026HDI Global, the US subsidiary of international Corporate & Specialty insurer HDI, provides expanded capacity and product offerings for general aviation coverage through Aerospace Insurance Managers (AIM) in California and the broader US market.
• KalepacoreTechnology or Integration · 25 February 2025Bishop Street expanded its partnership with AI-powered underwriting solutions provider Kalepa to support London-based MGAs Avid Insurance and Landmark Underwriting. The partnership leverages Kalepa's Professional Grade AI platform to improve underwriting speed, accuracy, and profitability. The platform automates submission intake, triages risks, embeds rating capabilities, and centralizes risk-critical information.
• Skyward Specialty Insurance GroupmajorStrategic or Co-development Partner · 3 September 2024Strategic joint venture with Skyward Specialty Insurance Group, a leader in the specialty P&C market. The partnership supports Bishop Street's growth strategy and MGA platform expansion.
• Topsail Reinsurance SPCmajorStrategic or Co-development Partner · 27 March 2024Joint venture with Topsail Reinsurance, a market-leading privately held reinsurer. Topsail Re co-invests into Bishop Street and provides preferred capacity, underwriting and administrative expertise, and assists with fostering new primary, fronting, and reinsurance carrier relationships for existing program expansion and new program launches.

Scale indicators5 records

Recent moves8 records

Expansion highlights7 records

Direct peers

• Excel Insurance Holdings: Specialty insurance platform backed by Atlas Holdings that builds and acquires MGAs across niche commercial lines. Comparable multi-boutique specialty insurance aggregator model.
• Acrisure: Largest acquisition-driven insurance platform globally, with significant specialty and MGA operations alongside retail brokerage. Closely comparable to Bishop Street's roll-up model of acquiring and scaling specialty insurance businesses.
• PCF Insurance Services: Acquisition-driven insurance brokerage and MGA platform. Comparable roll-up strategy acquiring agencies and specialty insurance businesses under a shared platform umbrella.
• BroadStreet Partners: PE-backed insurance platform that builds and acquires MGAs and agencies across specialty lines. Directly comparable multi-boutique model with shared services and MGA aggregation strategy.
• Keystone Agency Partners: Platform formed to build a leading portfolio of insurance agencies and MGAs, backed by Goldman Sachs Growth Equity. Highly comparable acquisition-centric MGA aggregator model.
• World Insurance Associates: National insurance brokerage platform built via aggressive acquisitions, with growing specialty and MGA capabilities. Mirrors Bishop Street's PE-backed, M&A-driven growth playbook.
• CFC Underwriting: London-headquartered specialty MGA writing complex and emerging risks via Lloyd's and company markets. Comparable specialty MGA model and overlapping niches relevant to Bishop Street's UK expansion.
• Mainsail Insurance Partners: PE firm exclusively focused on building specialty insurance platforms via MGAs and program managers. Directly comparable investment thesis and MGA platform-building approach.
• Novatae Risk Group: Specialty insurance platform serving niche commercial markets through agency, MGA and wholesale operations. Comparable specialty-focused insurance aggregation strategy.

Emerging players

• Accelerant: Data-driven MGA platform that provides capacity, analytics and risk exchange to specialty underwriters. Overlaps with Bishop Street's specialty MGA focus and use of AI/analytics for underwriting.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/about

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries7 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A5 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bishop Street Underwriters