Bishop Street Expands into Aviation with AIM Acquisition
Deal News | Jul 03, 2025 | Re-Insurance News
Bishop Street Underwriters, a portfolio company of RedBird Capital Partners, has announced its acquisition of Aerospace Insurance Managers (AIM), marking its entry into the general aviation insurance market. AIM, acquired from Hallmark Financial, operates across 47 states providing specialized insurance coverage including aircraft hull, aircraft, and airport liability primarily for small aircraft, hangar owners, and flight school operators. The acquisition seeks to leverage Bishop Street's resources and underwriting capabilities to enhance service quality and drive business expansion. The existing 16-person AIM team, still led by top executives Sean Kelley and Randy Kasen, remains committed to providing superior client service as they integrate into Bishop Street’s differentiated MGA platform.
Sectors
- Insurance
- Private Equity
- Aviation
Geography
- United States – Bishop Street and AIM operate across 47 states, making the U.S. the primary geographical focus of this transaction.
Industry
- Insurance – This pertains to the general and aviation-specific insurance services offered by Aerospace Insurance Managers and the strategic enhancement of Bishop Street Underwriters' services.
- Private Equity – RedBird Capital Partners, a PE firm, owns Bishop Street Underwriters and plays a role in facilitating the acquisition.
- Aviation – The acquisition involves an aviation-focused insurer, Aerospace Insurance Managers, which caters largely to the general aviation sector.
Financials
- Undisclosed – The financial terms of the acquisition of AIM by Bishop Street Underwriters were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bishop Street Underwriters | Buyer | Company | A portfolio company of RedBird Capital Partners, acquiring Aerospace Insurance Managers to expand into aviation insurance. |
| Aerospace Insurance Managers (AIM) | Target | Company | A general aviation insurance services provider operating across the United States. |
| Hallmark Financial | Selling Company | Company | The previous owner of Aerospace Insurance Managers, from whom Bishop Street Underwriters is acquiring the company. |
| RedBird Capital Partners | Private Equity Firm | Company | The private equity firm backing Bishop Street Underwriters. |
| Sean Kelley | Chief Underwriting Officer | Person | Vice President and Chief Underwriting Officer at AIM, leading the underwriting services. |
| Randy Kasen | VP Business Development and Operations | Person | Vice President at AIM, focusing on business development and operational functions. |