Bishop Street Underwriters to Acquire Landmark Underwriting
Deal News | Nov 25, 2024 | Globenewswire
Bishop Street Underwriters, a portfolio company owned by RedBird Capital Partners, has announced its intention to acquire Landmark Underwriting, a managing general agent specializing in complex and specialty insurance. This acquisition aims to bolster Bishop Street's portfolio and global reach following approval from the United Kingdom's Financial Conduct Authority. Founded in 2017, Landmark Underwriting brings expertise in various classes of (re)insurance and has broadened its operations beyond the UK to Australia, Canada, and Europe. With this strategic acquisition, Bishop Street seeks to integrate Landmark's deep market knowledge and client-centric approach to enhance its innovative solutions in a rapidly evolving insurance marketplace. The deal follows a series of strategic expansions by Bishop Street in the insurance sector.
Sectors
- Insurance Industry
- Financial Services
Geography
- United Kingdom – Landmark Underwriting is based in London and operates primarily within the UK, subject to the Financial Conduct Authority's approval for the acquisition.
- United States – Bishop Street Underwriters is linked to RedBird Capital Partners, a U.S.-based investment firm, highlighting the cross-border nature of the transaction.
- Global – The companies involved have operations and growing presence in regions such as Australia, Canada, and Europe, indicating a global market impact.
Industry
- Insurance Industry – The article discusses the acquisition of Landmark Underwriting, a company specializing in insurance services, by Bishop Street Underwriters and impacts relevant market sectors.
- Financial Services – Bishop Street Underwriters is a portfolio company of RedBird Capital, which operates in the financial services sector, focusing on growing their investment portfolio through strategic acquisitions in the insurance industry.
Financials
- Not disclosed – The financial terms of the acquisition between Bishop Street Underwriters and Landmark Underwriting were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bishop Street Underwriters | Bidding Company | Company | A portfolio company of RedBird Capital Partners, focusing on innovative solutions in specialty insurance markets. |
| Landmark Underwriting | Target Company | Company | A managing general agent specializing in complex and specialty (re)insurance based in London. |
| RedBird Capital Partners | Private Equity Firm | Company | The private investment firm that owns Bishop Street Underwriters, focusing on high-growth companies in various sectors. |
| United Kingdom's Financial Conduct Authority | Regulatory Body | Government | The regulatory body responsible for approval of the acquisition. |