Bishop Street Underwriters acquires Ethos Specialty’s transactional liability unit
Bishop Street Underwriters , a RedBird Capital Partners portfolio company, has acquired Ethos Specialty’s Transactional Liability unit.
Ethos Transactional is focused on managing risks related to transactions, offering multiple solutions including Representations and Warranties (R&W) and Tax insurance.
The Ethos team will remain intact. The majority of Ethos’ existing capacity providers will also continue working with the company.
“We are thrilled to add Ethos Transactional to the Bishop Street platform, now 10 lines of business and more than $300 million of premium, furthering our commitment to partnering with the best insurance operators in the business. 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.” – Chad Levine, Chief Executive Officer of Bishop Street.
“Partnering with Bishop Street at this juncture creates a unique opportunity to align with thoughtful, strategic thinkers pursuing high growth with a specialty focus. 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.” – Navine Aggarwal, CEO of Ethos Specialty.
“Bishop Street continues to advance its strategy of aligning best-in-class providers in the insurance industry under one platform. By entering into a long-term partnership with Ethos and leveraging the capabilities of RedBird and the Bishop Street platform, we are continuing to scale a highly specialized multi-boutique platform with significant growth opportunities.” – Mike Zabik, Partner of RedBird Capital.
This acquisition follows several key strategic platform developments for Bishop Street, including the acquisition of Conifer Insurance, an investment in Verve Services and the launch of partnerships with Skyward Specialty Insurance and Topsail Re.
