Bishop Street Underwriters, a RedBird Capital Partners portfolio company, has received a strategic structured capital investment of $125 million by White Mountains Insurance Group, Ltd.
Recently, in its 2025 result announcement, Bishop Street disclosed that it surpassed $650 million in gross written premium while having a sub-50% portfolio loss ratio.
Earlier this week, Bishop Street expanded its partnership with Kalepa, a specialist in AI-powered underwriting solutions, to support its London-based managing general agents (MGAs), Avid Insurance Services and Landmark Underwriting.
For the fourth quarter of 2025, White Mountains reported a gross written premiums (GWP) of $268 million for property and casualty re/insurance segment Ark/WM Outrigger, with a combined ratio of 77%.
Chad Levine, Chief Executive Officer (CEO), Bishop Street Underwriters, commented, “We are thrilled to welcome White Mountains as a strategic growth partner during a period of unprecedented momentum. Bishop Street’s 2025 performance – surpassing $650 million in gross written premium and industry-leading organic growth while maintaining a stellar sub-50 percent portfolio loss ratio – validates our commitment to backing elite underwriters, pursuing accretive acquisitions and launching de novo programs. With the addition of White Mountains as a strategic partner, we will look to accelerate our strategy and cement our global footprint in 2026.”
Chad Weber, President, Bishop Street Underwriters, added, “White Mountains brings a formidable history of scaling successful MGAs, a deep-seated knowledge of the MGA landscape and an understanding of the intricacies of our industry. We are excited to welcome their expertise to our boardroom and leverage their capabilities and connectivity to unlock new opportunities for the platform and our operating partners.”
Liam Caffrey, CEO, White Mountains, said, “Bishop Street is quickly emerging as an industry-leading MGA platform. This is a talented executive team with a strong track record of scaling insurance distribution businesses. We believe Bishop Street is well-positioned to capitalise on secular growth tailwinds.”
Chris Delehanty, Head of M&A, White Mountains, added, “We are pleased to partner with RedBird and a team we’ve known for many years. We look forward to collaborating on opportunities to accelerate the company’s growth and performance.”
Mike Zabik, Partner, RedBird Capital Partners, concluded, “White Mountains is a long-term investor, with deep insurance expertise, an outstanding track record and relevant resources to make them the ideal partner for Bishop Street and RedBird.
“With an established global footprint and significant opportunities for growth and partnership, this investment and partnership will allow Bishop Street to capitalise on its growth objectives in 2026 and beyond.”
