White Mountains invests $125m in Bishop Street Underwriters

Bermuda-based White Mountains Insurance Group has taken a $125 million stake in Bishop Street Underwriters, a portfolio company of RedBird Capital Partners, to support the MGA platform’s growth strategy with both capital and strategic expertise.

Bishop Street Underwriters CEO Chad Levine highlighted White Mountains’s arrival as a key strategic growth partnership at a time of “unprecedented momentum” for the business. The company pointed to its 2025 performance — surpassing $650 million in gross written premium and delivering organic growth while maintaining a sub-50 percent portfolio loss ratio — as evidence of its successful strategy of backing underwriters, pursuing accretive acquisitions and launching de novo programs. 

Levine said: “With the addition of White Mountains as a strategic partner, we will look to accelerate our strategy and cement our global footprint in 2026.”

Liam Caffrey (pictured), CEO of White Mountains, said: “Bishop Street is quickly emerging as an industry-leading MGA platform. This is a talented executive team with a strong track record of scaling insurance distribution businesses. We believe Bishop Street is well positioned to capitalise on secular growth tailwinds.” 

Mike Zabik, partner at RedBird Capital Partners, said: “White Mountains is a long-term investor, with deep insurance expertise, an outstanding track record and relevant resources to make them the ideal partner for Bishop Street and RedBird. With an established global footprint and significant opportunities for growth and partnership, this investment and partnership will allow Bishop Street to capitalise on its growth objectives in 2026 and beyond.”

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