Alongside the sale, SiriusPoint has renewed and extended its capacity agreement with Arcadian through the end of 2031, underscoring its continued partnership with the MGA despite the change in ownership.

Arcadian Risk Capital, a specialty MGA operating in Bermuda, Ireland, the United Kingdom, and the United States, was founded in October 2020 by industry veteran John Boylan, who continues to lead the company. At its inception, SiriusPoint then known as Third Point Re-provided a significant capital investment and acquired a minority ownership stake in the business.

In its first full year of operations, Arcadian reported gross written premiums of more than 225 million dollars, rising to 290 million dollars in 2022. Upon completion of the transaction, SiriusPoint expects to recognize a pre-tax gain of between 25 and 30 million dollars, in addition to the 96 million dollar gain already recorded in the second quarter of 2024. The deal is expected to close before the end of the first quarter of 2026, subject to regulatory approvals and customary closing conditions.

Scott Egan, chief executive officer at SiriusPoint, said the transaction reflects the company’s focus on long-term collaboration. “We continue to build on our partnership with Arcadian through the extension of our capacity agreement and are excited to support the business in its next chapter under respected industry leader John Boylan,” Egan said.

John Boylan, founder and chief executive officer of Arcadian, described the sale as a significant step forward for the company. “This marks an important milestone for the company. Lee Equity brings deep sector experience and shares our long-term view of building a disciplined, underwriting-led business. Their investment will allow us to accelerate our growth, expand our platform, continue to attract world-class underwriters, and deepen our relationships,” Boylan said.

Mark Mauceri, partner at Lee Equity, praised Arcadian’s track record and leadership team. “John and the Arcadian team have built a unique MGA platform with an impressive track record driven by an exceptional group of underwriters. We are excited to partner with John and the Arcadian team for the next stage of Arcadian’s growth and look forward to working together to continue building a world-class, specialty underwriting business,” Mauceri said.