SiriusPoint to sell 49% stake in MGA Arcadian for $139m

Global specialty insurer and reinsurer SiriusPoint has agreed to sell its 49% equity stake in managing general agent (MGA), Arcadian Risk Capital, to Lee Equity Partners for total consideration of $139 million, inclusive of a pre-close dividend.

At the same time, SiriusPoint has announced it has renewed and extended its capacity agreement with Arcadian until the end of 2031.

Arcadian, a specialty MGA with operations in Bermuda, Ireland, the United Kingdom, and the United States, was founded in October 2020 by industry executive John Boylan, who continues to lead the firm.

At launch, .

In its first full year of operations, Arcadian reported gross written premiums of over $225 million, increasing to $290 million in 2022.

It has now been revealed that, upon completion of the sale, SiriusPoint will recognise a pre-tax gain of $25–30 million.

This comes in addition to the previously recognised $96 million gain in the second quarter of 2024.

The deal is expected to close prior to the end of the first quarter of 2026, subject to regulatory approvals and satisfaction of customary closing conditions.

Scott Egan, Chief Executive Officer at SiriusPoint, commented, “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.”

John Boylan, Founder and CEO of Arcadian, said, “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.”

Mark Mauceri, Partner at Lee Equity, added, “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.”