Bishop Street Underwriters, a portfolio company of RedBird Capital Partners, is expanding its offerings and capabilities through the acquisition of Ethos Specialty’s Transactional Liability unit.
Ethos Transactional manages risks tied to business transactions, focusing on Representations and Warranties (R&W) and Tax insurance.
Through this partnership, Ethos gains additional resources to enhance operational efficiency and service quality via investments in technology. Ethos’s team will remain in place, maintaining continuity of service, while most of the current capacity providers will stay on board, supporting the company's underwriting approach.
Bishop Street CEO Chad Levine stated that adding Ethos Transactional to its portfolio, which includes 10 business lines and over $300 million in premium, aligns with Bishop Street’s commitment to partnering with skilled insurance professionals.
“The Ethos Transactional team shares our commitment to superior underwriting results, value of top-of-the-market relationships and focus on data-driven decision making. We look forward to welcoming the team onboard and leveraging its bench of expertise to pursue growth in this space,” said Levine.
Ethos Specialty’s CEO, Navine Aggarwal, highlighted the alignment of values with Bishop Street, viewing the partnership as an opportunity to increase resources and evolve Ethos’s offerings.
"With the influx of key resources and growth in capabilities created through this transaction, we are ready to evolve Ethos’ offerings and implement strategic investments that will amplify our team’s ability to meet the evolving needs of our brokers and clients in the transactional liability market,” said Aggarwal.
RedBird Capital partner Mike Zabik added that this acquisition is part of Bishop Street’s approach to scaling a specialized, multi-boutique platform within the insurance sector, reinforcing a long-term growth strategy.
Since its 2023 launch, Bishop Street has made several acquisitions, including Conifer Insurance, Verve Services, and partnerships with Skyward Specialty Insurance and Topsail Re.
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