25 March 2024News

Arcadian to start US operating subsidiary

A Bermuda-based managing general agent has received regulatory approval for a new US legal entity which will underwrite mid-market E&S casualty.  

Arcadian Risk Capital said Arcadian Risk Capital Insurance Services will have Biju Joy as executive vice president of its US operating company. 

Joy will be based out of New York. He was most recently employed at Global Indemnity where he set up the casualty practice. Prior to this he was responsible for Casualty Underwriting strategy at the Philadelphia Insurance Group. 

John Boylan, chief executive officer of Arcadian said: “We are pleased to announce the establishment of a US presence and the hire of Biju. He is a consummate professional with a long history in the E&S Casualty marketplace and will bring a breadth and depth of local knowledge to our Company. It marks the next stage in our strategic journey and strengthens our value proposition as a global entity."  

Joy said: “I am pleased to be joining Arcadian, an expansive and dynamic platform, resourced by senior underwriting professionals with bottom line integrity at its core. From a product perspective, our US E&S platform will serve to complement our non-US operating companies and I look forward to being an integral part of ongoing development." 

Arcadian was formed in 2020 and already has underwriting operations in London and Dublin. It said it is close to generating $1 billion of GWP on behalf of carrier partners.

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