Bishop Street Underwriters, Topsail Reinsurance form joint venture

Bishop Street Underwriters, a managing general agent platform backed by New York-based private equity firm RedBird Capital Partners Management LLC, said Wednesday it has formed a joint venture with Topsail Reinsurance SPC Ltd.

The joint venture will help foster primary, fronting and reinsurer relationships to expand existing MGAs and programs, Bishop Street said.

The companies will provide additional capacity for MGAs, Topsail Re CEO David Johnson said in a statement.

Bishop Street, which launched last year, is led by CEO Chad Levine and President Chad Weber.

Topsail Re is a Cayman Islands-domiciled reinsurer, with U.S. operations in Greensboro, North Carolina.