NEW YORK, Aug. 19, 2026 (GLOBE NEWSWIRE) — Bishop Street Underwriters (“Bishop Street”), a RedBird Capital Partners portfolio company, today announced the rollout of two new de novo programs: OnHook Underwriters, a proprietary tow truck operators insurance program, and Jade Underwriters, an Excess and Surplus (“E&S”) property MGA. Launched through Bishop Street Program Managers (“BSPM”), the firm’s MGA incubation platform, the program rollouts reflect the continued momentum behind Bishop Street’s growth strategy, with additional programs expected to follow through the remainder of 2026 and beyond.
Backed by the institutional-grade infrastructure and operational support of the Bishop Street platform, BSPM accelerates market entry for de novo specialty programs with a turnkey model, disciplined underwriting and advanced technological capabilities. These two programs reflect the range of opportunity BSPM was built to address, from niche commercial lines with deep community roots to sophisticated E&S property capabilities enabled by corporate strength risk management.
“BSPM’s model intentionally removes the traditional hurdles associated with launching specialty MGAs, providing scalable infrastructure, distribution support and business guidance from day one,” said Luke Porter, President of Bishop Street Program Managers. “With the launches of these two programs, we have demonstrated what is possible when strong entrepreneurial talent is matched with a platform purpose-built to support disciplined execution. We have a strong and growing roster of premier underwriting talent behind these first two launches, and we are excited to continue building on what we have started.”
OnHook Underwriters: Tow Truck Operators Program
Through BSPM, OnHook Underwriters is launching a proprietary insurance program for tow truck operators, a segment that has long been underserved by the broader market. The program is built on over a decade of specialized underwriting expertise in the towing industry, with embedded retail distribution that brings an established book of business and a proven track record of better-than-market underwriting results. OnHook offers tow truck operators comprehensive coverage spanning commercial auto, property, general liability and inland marine. Initially focused on New York, New Jersey, Maryland, Florida and Connecticut, the program is designed to grow with its policyholders.
Jade Underwriters: E&S Property
Led by industry veteran Sophie DeCouto, Jade Underwriters is bringing an innovative approach to the shared and layered excess property market, one of the fastest-growing and most complex segments of the insurance industry. DeCouto brings more than 20 years of E&S underwriting experience, built during her tenure in senior underwriting and leadership roles at Paragon Specialty Property, Ironshore, IFG Companies, Axis and Allied World. Across her career and varying market cycles, she has built diversified, profitable property underwriting units, developed deep broker relationships and consistently delivered disciplined results across primary, shared and layered property lines. Distributed exclusively through wholesale brokers across all 50 states, Jade will offer coverage for a range of commercial risks, with primary appetite concentrated in offices, retail, shopping centers and municipalities, complemented by habitational, condominium associations, educational and light manufacturing risks. The program is designed to serve risks that standard insurance markets often cannot or will not cover, offering coverage structures ranging from primary and quota share participation to excess positions, with line sizes calibrated to attachment point, risk quality and geographic exposure.
“BSPM’s position, embedded within the Bishop Street platform, provides a unique advantage for entrepreneurial underwriters looking to own their specialty niches,” said Chad Levine, Chief Executive Officer of Bishop Street Underwriters. “The connectivity, resources and underwriting excellence that define Bishop Street allow us to act decisively in the de novo space, bringing compelling new opportunities to market at speed and at scale. The successful rollout of these two programs, and the demand we’re seeing behind them, validate both the market opportunity and our ability to execute against it.”
BSPM is actively developing its next generation of de novo programs, with additional launches anticipated in the near term across a range of specialty lines.
About Bishop Street Underwriters
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 its 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 and provides strategic capital solutions to founders and entrepreneurs. Founded in 2014 by Gerry Cardinale, RedBird integrates sophisticated private equity investing with a hands-on business building mandate, focusing on two core ecosystems – Sports, Media & Entertainment and Financial Services. The firm currently manages over $14 billion in assets on behalf of a global group of blue chip institutional and family office investors. For more information, please go to www.redbirdcap.com.
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Bishop Street
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