Bishop Street Underwriters acquires Aerospace Insurance Managers
Bishop Street Underwriters, a RedBird Capital Partners portfolio company, has acquired Aerospace Insurance Managers, a general aviation insurance services provider, from Hallmark Financial. This acquisition marks Bishop Street’s entry into the aviation insurance market.
AIM provides general aviation coverage for aircraft hull, aircraft and airport liability, with a focus on small aircrafts flown for pleasure or business, as well as hangar owners, FBO operators, private and municipal airports, and flight school and charter operators, across 47 states. AIM’s 16-person team will continue to offer A+ rated coverage and be led by Sean Kelley, Vice President – Chief Underwriting Officer, and Randy Kasen, Vice President – Business Development and Operations, providing quality underwriting services to clients across the country.
This acquisition follows a series of developments for Bishop Street, including the acquisitions of Landmark Underwriting, Ethos Specialty’s Transactional Liability unit, Conifer Insurance Services, Ahoy!, an investment in Verve Services and the establishment of partnerships with Skyward Specialty Insurance and Topsail Re.
“AIM is entering an exciting new chapter, powered by access to new strategic partners and capital resources. Joining the Bishop Street platform significantly strengthens our team’s capabilities, allowing us to expand our reach and positioning us to grow our business while continuing to provide top-tier client service.” – Sean Kelley.
“Bishop Street has created a strong home base for operators like us, who provide tailored services to specific audiences and want access to a wider spectrum of resources and business development opportunities. The team’s commitment to innovation and growth couldn’t be more complementary to our goals for the future of AIM, and we look forward to seeing what comes next.” – Randy Kasen.
“We are pleased to welcome AIM to Bishop Street, maintaining our positive momentum and setting the stage for our continued expansion. The team brings specialized expertise, strong capacity partners and an excellent reputation to our platform, further diversifying our portfolio and advancing our commitment to aligning with the best of the best in the insurance industry.” – Chad Weber, President of Bishop Street.
“The acquisition of AIM adds another high-performing, niche insurance provider to the portfolio to complement the firm’s existing business lines and create opportunities to continue scaling Bishop Street’s unique platform. Bishop Street continues to grow rapidly, fueled by opportunistic acquisitions and a unique ability to execute on strategic lift outs of specialty underwriting teams. Following the acquisition of AIM, Bishop Street has successfully completed three carrier carveouts in less than two years.” – Mike Zabik, Partner of RedBird Capital.
