Acquisition marks Bishop Street’s first entry into the personal aviation insurance market
NEW YORK, July 01, 2025 (GLOBE NEWSWIRE) — Bishop Street Underwriters (“Bishop Street”), a RedBird Capital Partners portfolio company, today announced that it has acquired Aerospace Insurance Managers (“AIM”), a general aviation insurance services provider, from Hallmark Financial (“Hallmark”). This acquisition marks Bishop Street’s entry into the aviation insurance market, strengthening its differentiated MGA platform with an expanded portfolio of specialized client solutions. Financial terms of the deal were not disclosed.
AIM provides general aviation coverage for aircraft hull, aircraft and airport liability, with a focus on small aircrafts flown for pleasure or business, as well as hangar owners, FBO operators, private and municipal airports, and flight school and charter operators. Operating across 47 states, AIM will benefit from the resources and commitment to underwriting profitability offered by the Bishop Street platform, enabling improved service quality for clients and new business expansion opportunities. AIM’s 16-person team will continue to offer A+ rated coverage and be led by Sean Kelley, Vice President – Chief Underwriting Officer, and Randy Kasen, Vice President – Business Development and Operations, providing quality underwriting services to clients across the country.
“AIM is entering an exciting new chapter, powered by access to new strategic partners and capital resources,” said Sean Kelley. “Joining the Bishop Street platform significantly strengthens our team’s capabilities, allowing us to expand our reach and positioning us to grow our business while continuing to provide top-tier client service.”
Randy Kasen added, “Bishop Street has created a strong home base for operators like us, who provide tailored services to specific audiences and want access to a wider spectrum of resources and business development opportunities. The team’s commitment to innovation and growth couldn’t be more complementary to our goals for the future of AIM, and we look forward to seeing what comes next.”
“We are pleased to welcome AIM to Bishop Street, maintaining our positive momentum and setting the stage for our continued expansion,” said Chad Weber, President of Bishop Street. “The team brings specialized expertise, strong capacity partners and an excellent reputation to our platform, further diversifying our portfolio and advancing our commitment to aligning with the best of the best in the insurance industry.”
Mike Zabik, Partner of RedBird Capital, said, “The acquisition of AIM adds another high-performing, niche insurance provider to the portfolio to complement the firm’s existing business lines and create opportunities to continue scaling Bishop Street’s unique platform. Bishop Street continues to grow rapidly, fueled by opportunistic acquisitions and a unique ability to execute on strategic lift outs of specialty underwriting teams. Following the acquisition of AIM, Bishop Street has successfully completed three carrier carveouts in less than two years.”
This acquisition follows a series of key strategic developments for Bishop Street, including the acquisitions of Landmark Underwriting, Ethos Specialty’s Transactional Liability unit, Conifer Insurance Services, Ahoy!, an investment in Verve Services and the establishment of partnerships with Skyward Specialty Insurance and Topsail Re.
Raymond James & Associates, Inc. served as the exclusive financial advisor and Olshan Frome Wolosky LLP provided legal counsel to Hallmark. Fried, Frank, Harris, Shriver & Jacobson LLP and McDermott Will & Emery LLP provided legal counsel to Bishop Street Underwriters.
About Bishop Street
Bishop Street Underwriters, a RedBird Capital portfolio company, seeks to partner with Managing General Agents (“MGAs”) as well as niche underwriting teams. Bishop Street aims to combine their best-in-class (re)insurance executive team’s vision with RedBird’s strong track record, expertise and network in the financial services sector to build a differentiated platform that is uniquely positioned to capitalize on secular growth tailwinds in the industry. For more information, please go to www.bishopstreetuw.com.
About RedBird Capital Partners
RedBird Capital Partners is a private investment firm that builds high-growth companies with strategic capital solutions to founders and entrepreneurs. The firm currently manages $12 billion in assets on behalf of a global group of blue chip institutional and family office investors. Founded in 2014 by Gerry Cardinale, RedBird integrates sophisticated private equity investing with a hands-on business building mandate that focuses on three core industry verticals – Financial Services, Sports and Media & Entertainment. Over his 30-year investment career, Cardinale has partnered with founders and entrepreneurs to build some of the most iconic growth companies in their respective industries. For more information, please go to www.redbirdcap.com.
Media Contacts
Bishop Street
Dan Gagnier
Gagnier Communications
bishopstreet@gagnierfc.com
646.569.5897
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