Speciality insurance and reinsurance firm SiriusPoint has extended its multi-year partnership with Arcadian Risk Capital through 2026.
The extended collaboration is aimed at enabling Arcadian to expand its US operations through product and service diversification, regional expansion, and alliances with other underwriting teams.
SiriusPoint provides the majority of underwriting capacity to Arcadian, a Bermuda-based managing general agent (MGA).
The MGA plans to hire senior underwriters to grow into speciality insurance lines to complement their current book.
Arcadian operates in general liability (GL), professional liability (PL) and property insurance lines of business
It is claimed to have generated $225m in gross written premium (GWP) in 2021 and $290m in 2022.
SiriusPoint CEO Scott Egan 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 speciality niche markets.”
Arcadian has established its US branch in Delaware.
Arcadian CEO John Boylan said: “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.”
Last October, SiriusPoint-backed European MGA Alta Signa launched directors and officers (D&O) insurance in Italy.