Bishop Street Underwriters (Bishop Street), a portfolio company of RedBird Capital Partners, has completed its acquisition of London-based Landmark Underwriting (Landmark). The deal marks Bishop Street’s first expansion beyond North America, a news release noted. The financial terms of the deal were not disclosed.
Landmark, a specialist managing general agent (MGA) operating since 2017, provides bespoke insurance solutions across a range of classes, including professional indemnity, property, directors and officers, and general liability. Bishop Street said the acquisition will see Landmark expand its offerings to include marine and political risk products, alongside planned developments in new markets.
The current leadership team at Landmark will remain in place, with Sitki Gelmen continuing as group CEO, David Ratledge as group managing director, and Deepti Janak as group chief financial officer. Bishop Street said this aims to ensure a smooth transition and align with its broader strategic ambitions across the UK, Europe, and the Asia-Pacific region.
“We’re thrilled to officially welcome Landmark Underwriting to the Bishop Street family,” said Chad Levine, CEO of Bishop Street. “We look forward to leveraging the team’s experience and strong industry relationships to enable the next chapter of international development for our platform.”
Gelmen highlighted the benefits of the deal and the “exciting next phase” that it marks. “We are focused on bringing specialty underwriting solutions to our partners, and through this partnership, we will amplify our ability to provide leading risk solutions to top broking houses worldwide. The combination of Bishop Street’s resources and our niche expertise will allow us to accelerate growth, expand our product offerings into complementary lines of business and deepen our presence in key markets,” said Gelmen.
“Bishop Street’s growth strategy is predicated on leveraging a multi-jurisdictional footprint. Landmark’s strong presence in London and its expanding global presence are key levers for future growth, both organically and through strategic acquisitions across key international markets,” said RedBird Capital partner Mike Zabik.
The deal follows a series of strategic investments by Bishop Street, including recent acquisitions of Ethos Specialty’s Transactional Liability unit, Verve Services, Conifer Insurance Services, and Ahoy!, as well as partnerships with Skyward Specialty Insurance and Topsail Re.
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