Bishop Street, a portfolio company of RedBird Capital Partners, is set to acquire Landmark Underwriting, a managing general agent specialising in the London insurance market.
The acquisition, which is pending regulatory approval from the UK’s FCA, is expected to enhance Bishop Street’s product offerings in complex and specialty reinsurance.
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Landmark Underwriting, established in 2017, is known for its multi-disciplined product offerings worldwide, with a focus on professional indemnity, property, directors and officers, general liability and marine insurance.
Operating from its London headquarters, Landmark has established a strong presence in the UK and Australia, with an expanding footprint in Canada and Europe.
It is known for offering tailored insurance services, supported by A-rated and other capacity partners.
Bishop Street CEO Chad Levine said: “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.”
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By GlobalDataLandmark Underwriting co-founder Sitki Gelmen said: “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.”
RedBird Capital Partner Mike Zabik said: “Having a multi-jurisdictional footprint is a core strategy for us and we are looking forward to leveraging Bishop Street’s existing platform and distribution relationships to drive organic and inorganic growth in the UK and other global markets with the Landmark team.”
This follows recent acquisitions of the Transactional Liability unit from Ethos Specialty, Conifer Insurance Services and Ahoy!, as well as investment in Verve Services.
The company has also established partnerships with Skyward Specialty Insurance and Topsail Re, indicating a concerted effort to expand its capabilities and market reach.
