Wed, 08 Oct 2025 | BUSINESS SALE
Avid Insurance, a managing general agent (MGA) based in London, has been acquired by Bishop Street Underwriters after previous backer Beech Tree PE confirmed the realisation of its investment in the firm.
Avid Insurance is a niche multi-disciplined MGA with offices in London, Leeds and Hornchurch. Founded in 2006, the company provides insurance solutions to a range of complex and underserved markets, with a portfolio covering sectors including construction, leasehold, motor sport, social housing, equine, student contents, travel insurance and gadgets.
The company, which is partnered with A-rated carriers and operates as Lloyd’s coverholder, uses data-driven underwriting and pricing methods.
Avid has been sold to Bishop Street Underwriters, a RedBird Capital Partners portfolio company, in a deal that represents the final exit from Beech Tree PE Fund II. The sale provides strong returns for Beech Tree, which first invested in Avid in 2019, with the MGA’s profitability more than tripling during the course of its investment.
Stephen Gibson, CEO of Avid Insurance, (pictured above, right, with Beech Tree PE director Ben Cartwright) said that the company had undergone a “very successful journey with Beech Tree”, with the private equity firm supporting Avid to scale its business both acquisitively and organically.
He continued: "We view our new partnership with Bishop Street as an exciting next step for the business as we build for the future with an eye for further growth and commitment to underwriting excellence."
Gibson added that Avid’s partnership with Bishop Street would provide the scale and support required to further deepen the company’s market presence, while maintaining its core values. Following the sale, Gibson, along with Director of Underwriting John Inwood and Finance Director Jon Terry, will all remain in their current roles.
Chad Levine, CEO of Bishop Street Underwriters, said that Avid was “an ideal partner” for the company, describing it as a firm “with a wealth of specialist knowledge and proven track record of underwriting across a diverse range of sectors” and adding that its “multi-disciplinary expertise enhances our value proposition to clients with complementary offerings and supports our growth strategy”.
The deal marks Bishop Street’s second UK acquisition this year, following the February 2025 takeover of another London-based MGA, Landmark Underwriting, which was Bishop Street’s first expansion outside of North America.
As consolidation continues in the UK broker market, insurance M&A is increasingly focusing on the MGA industry
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