Bishop Street Underwriters has acquired Avid Insurance, a managing general agent (MGA) based in London.
Avid Insurance, established in 2006, provides insurance solutions for complex and underserved markets. Its portfolio includes sectors such as construction, social housing, leasehold, equine, motor sport, gadget, student contents, and travel insurance.
The firm partners with A-rated carriers and operates as a Lloyd’s coverholder, using data-driven underwriting and pricing methods. Avid’s main office is in London, with additional teams in Leeds and Hornchurch.
The Avid team will join Bishop Street’s platform, gaining access to greater resources and the ability to invest in new technologies, including AI-powered underwriting. The acquisition extends Bishop Street’s presence in the UK and supports its strategy to expand across different jurisdictions.
Stephen Gibson (pictured above, left), chief executive officer of Avid Insurance, said that the partnership provides the support and scale needed to deepen market presence, while maintaining Avid’s core values. Gibson, along with John Inwood, director of underwriting, and Jon Terry, finance director, will remain in their current roles.
“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,” said Chad Levine (pictured above, right), chief executive officer of Bishop Street Underwriters.
The transaction, which closed on October 3 following regulatory approval, represents Bishop Street’s second business expansion in the UK this year. Financial details of the deal were not disclosed.
Earlier this year, Bishop Street completed the acquisition of Landmark Underwriting, a London-based MGA. This marked Bishop Street’s first expansion outside North America and strengthened its presence in the London market and internationally. The deal enables Bishop Street to broaden its offerings to include marine and political risk products, with plans for further developments in new markets.
Bishop Street has also expanded its transactional risk capabilities by acquiring Ethos Specialty’s transactional liability unit in late 2024. The Ethos transactional team remains in place, supporting continuity and data-driven underwriting, and the acquisition has increased Bishop Street’s portfolio to over US$300 million in total premium.
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