Bishop Street is known for its value-driven approach to acquiring and incubating MGAs, merging their established brand equity with top-tier capabilities, capital, and resources to create a robust growth platform. With several deals already completed and more expected to close this year, Bishop Street is actively collaborating with entrepreneurs, operators, and underwriters across various specialty P&C markets.
The joint venture with Skyward Specialty is set to enhance Bishop Street’s capacity to strengthen MGAs, support the expansion of existing programs, launch new products and programs, and facilitate underwriting team lift-outs with preferred Admitted and E&S capacity.
Bishop Street’s data-driven, tech-enabled decision-making and value creation, combined with Skyward Specialty’s strong underwriting expertise, advanced technology and analytics capabilities, primary insurance capacity, and financial strength, will further empower Bishop Street to meet the unique needs of its MGA businesses and entrepreneurial underwriters seeking a turnkey platform.
This partnership with Skyward Specialty complements Bishop Street’s earlier joint venture with Topsail Reinsurance, a leading reinsurer. Both strategic alliances bring complementary underwriting techniques and significant market expertise, supporting Bishop Street’s ongoing growth and ability to leverage capacity as a strategic asset for platform partners.
Chad Weber, President of Bishop Street, commented, “Partnering with a rapidly growing leader like Skyward Specialty marks a significant milestone for Bishop Street. As we expand our platform, our ability to offer preferred primary insurance capacity distinguishes us as a key partner for both current and future MGA partners.”
Chad Levine, CEO of Bishop Street, added, “Our strategy focuses on building a connected ecosystem of diversified MGAs, each with best-in-class underwriting, backed by a data-driven infrastructure, unique access to capacity, and distribution. The complementary expertise of our partners solidifies Bishop Street as the preferred home for diverse specialty MGAs in the industry.”
Andrew Robinson, Chairman and CEO of Skyward Specialty, stated, “Our partnership with Chad, Bishop Street, and the RedBird team is driven by our shared commitment to delivering innovative and tailored insurance solutions to meet the specialized needs of our customers. This joint venture enhances our ‘Rule Our Niche’ strategy, expanding our capability with the impressive roster of MGAs in the Bishop Street portfolio and the future markets they are targeting.”
Robinson also noted, “We have developed a strong relationship with RedBird over the past few years, and we believe that Bishop Street has an exceptional financial backer with a proven track record in insurance. RedBird’s support further strengthens this partnership.”
