Bishop Street Underwriters, a portfolio company of RedBird Capital Partners, has announced plans to acquire Landmark Underwriting, a managing general agent (MGA) operating in the London insurance market.
The financial details of the transaction have not been disclosed. Completion of the acquisition is subject to regulatory approval by the UK’s Financial Conduct Authority.
Landmark Underwriting, established in 2017, specialises in providing tailored re/insurance solutions for brokers and clients globally. Its offerings span multiple lines, including professional indemnity, property, directors and officers (D&O), general liability, and marine insurance.
Headquartered in London, the company has established operations in the UK and Australia, with an expanding presence in Canada and Europe.
Bishop Street's CEO, Chad Levine (pictured above), noted that Landmark's expertise in niche markets aligns with the firm’s objectives.
“Adding Landmark to our growing platform supports our continued efforts to partner with best-in-class operators and underwriters to grow their businesses alongside best-in-class platform capabilities, while expanding Bishop Street’s global reach,” Levine said.
Landmark’s co-founder, Sitki Gelmen, also highlighted that the partnership with Bishop Street marks a pivotal point for the company, aimed at achieving significant growth.
“This partnership with Bishop Street will provide exciting strategic capabilities to expand our dynamic and service driven team of underwriters, leading to even more innovative and flexible risk management solutions for brokers and clients,” Gelmen said.
The acquisition comes as part of Bishop Street’s broader strategy, which includes recent transactions such as the acquisition of Ethos Specialty’s transactional liability unit, Conifer Insurance Services, and Ahoy!, as well as investments in Verve Services.
The company has also established partnerships with Skyward Specialty Insurance and Topsail Re.
Bishop Street Underwriters focuses on partnering with MGAs and niche underwriting teams as part of its growth strategy in the specialty insurance sector.
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