Scott Egan, chief executive officer, SiriusPoint.
8 March 2023News

SiriusPoint extends commitment to Arcadian Risk Capital

SiriusPoint has renewed its commitment to Bermuda-based managing general agent (MGA) Arcadian Risk Capital, extending the partnership through 2026.

Established in October 2020 by John Boylan, former global chief casualty underwriter at Max Capital and Markel, Arcadian already relies on SiriusPoint for most of its underwriting capacity. Underwriting general liability, professional liability and property insurance, in 2022the MGA generated gross written premiums (GWP) of $290 million. It currently has a head count of 39.

According to the company, the renewed commitment will allow Arcadian to “significantly scale operations” through geographical growth, product line expansion, and partnerships with other underwriting teams. It has targeted the US for geographic and product expansion. With a branch incorporated in Delaware, the MGA plans to recruit senior underwriters to expand into specialty insurance lines, complimenting its existing book.

“Arcadian’s story is one of incredible growth,” said its CEO Boylan. “The extended partnership with SiriusPoint is a real statement of intent and commitment from both parties. We have achieved a lot in two years, and our US expansion will enable us to maintain top-line trajectory.”

Scott Egan, CEO of SiriusPoint, said: “The success of our partnership with Arcadian has been proven by their exceptional growth and performance and the contribution they make to SiriusPoint’s profitability. For SiriusPoint, Arcadian provides an experienced and knowledgeable underwriting team, strong distribution relationships, and considerable opportunity for development and growth. For Arcadian, SiriusPoint provides paper and the support for the company to build channels in the specialty niche markets. I am delighted that we will be continuing to work together to deepen our relationship and further leverage the expertise of both companies for mutual value creation.”

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