Reinsurer SiriusPoint has agreed to divest its 49% equity stake in Arcadian Risk Capital, a managing general agent, to Lee Equity Partners in a deal valued at $139m.
The transaction includes an extended capacity agreement with Arcadian, set to last until the end of 2031.
Go deeper with GlobalData
Established in Bermuda in 2020 by industry veteran John Boylan, Arcadian has an underwriting portfolio that includes general liability, excess and surplus casualty, professional liability and property insurance.
The company operates across Bermuda, Ireland, the UK and the US.
Arcadian CEO Boylan said: “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.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataAfter the sale, Arcadian’s management and staff will continue to hold a considerable share in the company alongside SiriusPoint.
The completion of the deal is expected before the end of the first quarter of 2026 (Q1 2026), subject to standard closing conditions.
SiriusPoint is expected to recognise a pre-tax gain of $25m–30m following the sale’s closure, adding to a $96m gain recorded in the Q2 2024.
Arcadian’s earnings before interest, taxes, depreciation and amortisation stands at $17.6m.
SiriusPoint CEO Scott Egan stated: “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.”
Partner at Lee Equity Mark Mauceri added: “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.”
In August 2025, Arden Insurance Services, a US managing general underwriter, secured capacity backing from SiriusPoint for a new insurance programme targeting wildfire risks.
