Bishop Street Underwriters, the multi-boutique insurance platform owned by RedBird Capital Partners, has announced a strategic joint venture with Skyward Specialty Insurance Group to support growth of its Differentiated MGA Platform.

The joint venture is expected to accelerate Bishop Street’s ability to strengthen managing general agents (MGAs) and support existing program expansion, new product and program launches, and underwriting team lift-outs with preferred Admitted and Excess & Surplus (E&S) capacity.

Chad Weber, President of Bishop Street, commented on joint venture: “Establishing this partnership with a rapidly growing leader like Skyward Specialty is an important milestone for Bishop Street. As we continue to grow our platform, our ability to provide preferred primary insurance capacity sets us apart as a key differentiator both for existing and future MGA partners.”

Chad Levine, CEO of Bishop Street, said: “Our focus is on building a connected ecosystem of diversified MGAs, each with best-in-class underwriting, supported by 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, added: “Our decision to partner with Chad, Bishop Street and the RedBird team is a direct result of our shared view and commitment to delivering innovative and tailored insurance solutions to the specialized needs of the customers we seek to serve. This is the core of our “Rule Our Niche” strategy, and this joint venture extends that capability with the impressive roster of MGAs already part of the Bishop Street portfolio, as well as the future markets Bishop Street is targeting.”

He continued: “Over the past few years, we have developed a strong relationship with RedBird and we believe that Bishop Street has a terrific financial backer with an impressive track record in insurance. RedBird’s backing further strengthens this partnership we are putting into place.”

The joint venture with Skyward Specialty complements Bishop Street’s joint venture with Topsail Reinsurance, which was announced earlier this year. 

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