NEW YORK and WEST PALM BEACH, Fla., Sept. 26, 2024 (GLOBE NEWSWIRE) -- Bishop Street Underwriters ("Bishop Street"), a multi-boutique insurance platform owned by RedBird Capital Partners ("RedBird"), today announced it has made a strategic equity investment in Verve Services, LLC ("Verve"), a leading, full-service auto insurance managing general agency ("MGA"). This partnership marks Bishop Street's entry into Specialty Private Passenger Auto. Through this equity investment, Verve is positioned for continued innovation and accelerated growth in the auto insurance industry.
"Dan and his team have built Verve into a differentiated passenger auto insurance MGA. They have an exceptional platform that combines advanced analytics with a deep understanding of the market, which drives superior outcomes and has supported their position as a leader in the specialty auto insurance space," said Chad Levine, Chief Executive Officer of Bishop Street.
"Verve's focus and commitment to utilizing data and analytics to deliver industry-leading loss ratios that significantly outperform industry results for its insurance and reinsurance partners is perfectly aligned with our strategic vision at Bishop Street. We are excited to build on this momentum and drive value creation for all of Verve's partners," said Chad Weber, President of Bishop Street.
"While Bishop Street is predominantly focused ...
