Bishop Street Underwriters, a RedBird Capital Partners portfolio company, has introduced Bishop Street Program Managers, an incubator designed to support the growth of managing general agents.
Operating within the Bishop Street platform, the initiative will work with underwriters to develop new specialty MGAs and respond to emerging opportunities in the insurance industry.
Bishop Street Program Managers leverages the firm’s $600 million-plus gross written premium platform, offering participating underwriters access to capital, operational infrastructure, insurer relationships, and back-office support.
Underwriters will also benefit from Bishop Street’s shared services model, which includes compliance, technology, distribution, and data analytics, complemented by an AI-enhanced underwriting workbench. The programme’s customisable, turnkey framework enables new MGAs to enter the market in as little as 90 days, providing a structured and efficient launch process.
The rollout of Bishop Street Program Managers coincides with several strategic executive appointments. Luke Porter, a veteran underwriter with experience in developing new programs and insurtech platforms, has been named President of the incubator.
Andrew Shrout, CPCU, joins as Chief Strategy Officer, bringing extensive experience in strategic marketing, organisational development, and operational planning to guide the initiative’s growth.
In addition, Dan Latinsky has joined Bishop Street as Chief Risk Officer, responsible for underwriting, pricing, profitability, and portfolio strategy. A Fellow of the Casualty Actuarial Society, Latinsky previously oversaw programme pricing and performance at Obsidian Insurance Holdings.
Together, the expanded leadership team brings over a century of combined experience across the insurance sector and will support Bishop Street’s continued expansion, building on acquisitions including Avid Insurance, Aerospace Insurance Managers, Landmark Underwriting, Ethos Specialty’s Transactional Liability unit, Conifer Insurance Services, and Verve Services.
Porter commented: “Operating within the Bishop Street platform truly makes our incubator programme unique in the de novo space. With established insurer relationships, multi-faceted leadership expertise and a myriad of distribution opportunities, we take the grunt work out of launching a specialty MGA.
“I look forward to helping entrepreneurial underwriters own their niche — launching fully operational programmes faster, more efficiently and with advanced data, compliance and distribution tools built in from day one.”
“Our proven track record in M&A to date has created the ideal foundation for a platform that can bring quality MGAs to market at speed, supported by cross-platform resources and industry leading technology,” said Chad Levine, CEO of Bishop Street.
“As we focus on accelerating growth and building long-term value across the portfolio, we’re pleased to roll out Bishop Street Program Managers as a complementary offering to help launch the MGAs of the future. With Luke and Andrew’s expertise and our platform capabilities, we’re positioned to be the partner of choice for underwriters with niche expertise and an appetite for growth.”
Mike Zabik, Partner at RedBird Capital Partners, added: “Looking across the Bishop Street portfolio from a macro perspective, establishing incubator capabilities is the logical next step as the firm continues to execute on innovative growth strategies and initiatives. The addition of Luke, Andrew and Dan enhances Bishop Street’s best-in-class team with market-specific specialised expertise to support sustainable long-term growth.”
