Revealed – new proprietor of Conifer Insurance coverage Providers

After Insurance coverage Enterprise reported the sale of Conifer Holdings’ (Conifer) insurance coverage company operations to a thriller purchaser, the brand new proprietor of Conifer Insurance coverage Providers (CIS) has now revealed itself. In a separate announcement from that launched by Conifer, Bishop Road Underwriters stated it has entered the business traces MGA market by buying CIS.

Chad Levine (pictured), chief govt of the multi-boutique insurance coverage platform, acknowledged: “We’re excited so as to add [CIS] to the Bishop Road platform as a part of our strategic enlargement. [CIS] has transitioned to a specialty MGA during the last yr, and this strategic provider carve-out will function a robust basis that checks many packing containers as our first business platform acquisition.

“[This] builds on the optimistic momentum of our latest bulletins. These strategic relationships place Bishop Road for continued development by means of the acquisition of MGAs, the recruitment of specialty underwriting groups, and new enterprise improvement initiatives.”

As beforehand disclosed by Conifer, Nick Petcoff was becoming a member of CIS’s new proprietor. Petcoff, CEO of the acquired MGA, expressed pleasure on behalf of his group of greater than 70 individuals.

“With [Bishop Street’s] robust backing of strategic companions and capital assets, we’re assured we will proceed to exceed shopper expectations by delivering extremely tailor-made insurance coverage options and distinctive service,” he declared.

“We’re already working with Bishop Road to construct in new underwriting know-how capabilities in addition to increase distribution and capability for brand spanking new packages and acquisitions we now have on our radar.”

In the meantime, Bishop Road proprietor RedBird Capital Companions is simply as eager following the swoop.

“This primary business line acquisition is a vital step for the Bishop Road platform, which leverages shared providers and best-in-class know-how choices,” famous RedBird Capital accomplice Mike Zabik. “With RedBird’s backing and a robust pipeline of development alternatives, Bishop Road is properly positioned to benefit from secular tailwinds.”

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