NEW YORK, Oct. 07, 2025 (GLOBE NEWSWIRE) — Bishop Street Underwriters (“Bishop Street”), a RedBird Capital Partners portfolio company, today announced that it has acquired Avid Insurance (“Avid”), a niche multi-disciplined managing general agent (“MGA”) based in London. This acquisition marks Bishop Street’s second strategic business expansion in the U.K. this year, further developing the capabilities of its platform with a deeper footprint in a core growth market. The transaction closed on October 3, 2025, with all requisite regulatory approvals. Financial terms were not disclosed.
Founded in 2006, Avid delivers specialized insurance solutions for complex and underserved markets across sectors including construction, social housing and leasehold, with additional capabilities in equine, motor sport, gadget, student contents and travel insurance. Partnering with A-rated carriers and operating as a Lloyd’s coverholder, Avid takes a differentiated approach to underwriting, utilizing sophisticated data collection and analysis to support tailored underwriting and pricing across business lines. The firm is based in London, with additional teams in Leeds and Hornchurch.
The entire Avid team will benefit from the connectivity and scalability of Bishop Street’s platform, continuing to meet client needs with added capacity to invest in innovative technologies and new product offerings, such as AI-powered underwriting. In turn, the addition of Avid extends Bishop Street’s presence in the U.K., as the firm seeks to develop its reach across jurisdictions.
“We are thrilled to be partnering with the Bishop Street team,” said Stephen Gibson, Chief Executive Officer of Avid Insurance. “Bishop Street’s platform gives us the support and scale necessary to deepen our market presence while preserving the core values that have set us apart. We view our partnership as the logical next step as we build the future of our business with an eye for growth and commitment to underwriting excellence.” The senior management team of Stephen Gibson, John Inwood, Director of Underwriting, and Jon Terry, Finance Director, will continue with the business in their current roles.
“We are pleased to welcome Stephen and the Avid team to the Bishop Street platform,” said Chad Levine, Chief Executive Officer of Bishop Street Underwriters. “Avid is an ideal partner for Bishop Street, with a wealth of specialist knowledge and proven track record of underwriting across a diverse range of sectors. The team’s multi-disciplinary expertise enhances our value proposition to clients with complementary offerings and supports our growth strategy.”
Mike Zabik, Partner at RedBird Capital Partners, said, “Developing Bishop Street’s global footprint is a key priority for the firm as it executes on its growth strategy. With this acquisition, Bishop Street builds on its existing presence in the U.K. to extend the firm’s offerings and create new pathways for future business opportunities.”
This acquisition marks the latest step in Bishop Street’s ongoing strategic expansion, following the acquisitions of Landmark Underwriting, Aerospace Insurance Managers, Ethos Specialty’s Transactional Liability unit, Conifer Insurance Services, Verve Services and Ahoy!.
About Avid
Avid Insurance is an established managing general agent. It holds Lloyd’s cover holder status placing a wide variety of products into the market. Avid specializes in the social housing sector, leisure, travel and associated insurance and property insurance, together with niche insurance schemes and products.
With its range of insurer partners, Avid Insurance will be able to produce a bespoke insurance solution to meet clients’ specific needs together with ongoing product and management support. Visit http://www.avidinsurance.co.uk.
About Bishop Street
Bishop Street Underwriters, a RedBird Capital Partners portfolio company, seeks to partner with Managing General Agents (“MGAs”) as well as niche underwriting teams. Bishop Street aims to combine their best-in-class (re)insurance executive team’s vision with RedBird’s strong track record, expertise and network in the financial services sector to build a differentiated platform that is uniquely positioned to capitalize on secular growth tailwinds in the industry. For more information, please go to www.bishopstreetuw.com.
About RedBird Capital Partners
RedBird Capital Partners is a private investment firm that builds high-growth companies with strategic capital solutions to founders and entrepreneurs. The firm currently manages $12 billion in assets on behalf of a global group of blue chip institutional and family office investors. Founded in 2014 by Gerry Cardinale, RedBird integrates sophisticated private equity investing with a hands-on business building mandate that focuses on three core industry verticals – Financial Services, Sports and Media & Entertainment. Over his 30-year investment career, Cardinale has partnered with founders and entrepreneurs to build some of the most iconic growth companies in their respective industries. For more information, please go to www.redbirdcap.com.
Media Contacts
Bishop Street
Dan Gagnier
Gagnier Communications
bishopstreet@gagnierfc.com
646.569.5897
