Bishop Street Underwriters, a managing general agent platform backed by New York-based private-equity firm RedBird Capital Partners Management LLC, said Tuesday it acquired Aerospace Insurance Managers from Hallmark Financial.
Terms of the transaction were not disclosed. The deal marks Bishop Street Underwriters’ entry into the aviation insurance market.
Dallas-based Aerospace Insurance Managers has 16 staff and provides general aviation coverage, with a focus on small aircraft, fixed-base operators, private and municipal airports and other aviation businesses.
AIM will continue to be led by Sean Kelley, vice president-chief underwriting officer, and Randy Kasen, vice president-business development and operations.