Because of this partnership, Bishop Street's unique Managing General Agents (MGAs) platform will expand more quickly as Topsail Re's vast underwriting experience and preferred capacity are combined.

Adding strategic value to the MGAs and Program Administrators inside the Bishop Street ecosystem is the main driving force for this cooperation. The company seeks to cultivate new primary, fronting, and reinsurance carrier relationships by utilizing Topsail Re's demonstrated skill in supporting MGAs and programs, including administrative and underwriting capabilities. This strategic partnership aims to underwrite team lift-outs, introduce new goods and initiatives, and make it easier to expand already-existing ones.

Bishop Street is a value-adding buyer and incubator for insurance programs, combining industry-leading capabilities, funding, and resources with established brand equity to drive substantial development. In an effort to transform the InsurTech scene, the company actively collaborates with business owners, operators, and underwriters in a variety of niche Property & Casualty (P&C) industries. Under the direction of CEO Chad Levine and President Chad Weber, Bishop Street was founded last year and has since made a commitment to using capacity as a strategic asset, highlighting the significance of preferred capacity for MGAs' organic growth and the launch of new initiatives.

However, Topsail Re has a wealth of experience in supporting MGAs and program administrators and underwriting their success. Offering broad capabilities and a partner-first philosophy, Topsail Re consistently aims to develop alongside its clients, concentrating on risk-capital (reinsurance) capacity solutions as well as strategic growth capital.

The CEO of Topsail Re, David Johnson, and Chief Strategy Officer & Executive Vice President, Christopher Miller, have joined the Bishop Street Board of Directors, strengthening the company's relationship. Additionally, Tom Gubash, Managing Director of Topsail Capital Partners, will become a Board Observer, strengthening the venture's collaborative structure.

Bishop Street CEO Chad Levine expressed his excitement about partnering with Topsail Re in remarks that emphasized the importance of the joint venture. We have been committed to using capacity as a strategic asset for our platform partners since Bishop Street's first launch. Preferred capacity is a vital facilitator for MGAs, and this investment helps new program launches as well as organic development at current MGA programs.

"As we continue to work with MGAs in the specialty P&C commercial space, Topsail Re is the perfect first partner for Bishop Street and stands out in the market."