Bishop Street Underwriters acquires Michigan-based Conifer

Bishop Street Underwriters, a multi-boutique insurance platform owned by RedBird Capital Partners, announced that it has acquired Conifer Insurance Services, a specialty commercial management general agency from Conifer Holdings, Inc. The acquisition of Conifer marks Bishop Street’s entry into commercial lines, expanding its multiline. , differentiated MGA platform.

Conifer operates a portfolio of three programs across a number of specialist business lines, including high street small and medium-sized enterprises (SMEs), hospitality and car dealerships. Conifer’s existing infrastructure presents a significant growth opportunity for Bishop Street, enabling further expansion through geographic expansion, new product development and additional acquisition synergies.

Conifer transitioned to a specialty MGA over the past year, and this strategic carrier separation will serve as a solid foundation that will tick many boxes as our first commercial platform acquisition,” said Chad Levine, Chief Executive Officer of Bishop Street.

Conifer announced earlier this week that it was selling its insurance agency operations for an amount equal to $45 million plus possible additional payments of up to $25 million based on the future performance of the operations that were sold.

Conifer’s more than 70 employees will join the Bishop Street platform, said Nick Petcoff, CEO of Conifer Insurance Services.

“We are already working with Bishop Street to build new underwriting technology capabilities as well as expand distribution and capacity for new programs and acquisitions we have on our radar,” Petcoff said.

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