SiriusPoint has agreed to sell its 49% equity stake in Arcadian Risk Capital to Lee Equity Partners for $139mn, a deal that includes a pre-close dividend. The transaction, announced this week, highlights a reshaping of ownership but not of collaboration.
SiriusPoint also renewed and extended its capacity agreement with Arcadian until the end of 2031, signaling that its underwriting commitment remains intact despite the exit.
Arcadian, a specialty MGA founded in October 2020 by John Boylan, operates across Bermuda, Ireland, the UK, and the US.
SiriusPoint—then Third Point Re—backed the startup at launch with capital and a minority stake. Since then, Arcadian has scaled quickly. Gross written premiums surpassed $225mn in its first full year and reached $290mn by 2022.
SiriusPoint expects to recognize a pre-tax gain of $25mn–$30mn from the sale, on top of the $96mn gain it already booked in Q2 2024.
Closing is slated for Q1 2026, subject to regulators and standard conditions.
Scott Egan, SiriusPoint’s CEO, positioned the sale as a strategic move that keeps both firms aligned.
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.
Scott Egan, SiriusPoint’s CEO
For Boylan, the transaction is less about separation and more about acceleration. He described it as a milestone that brings in a capital partner with deep sector expertise.
“Lee Equity brings long-term perspective and shares our vision of building a disciplined, underwriting-led business. Their investment will allow us to accelerate growth, expand our platform, continue to attract underwriters, and deepen client relationships,” Boylan said.
Lee Equity’s Mark Mauceri called Arcadian “a unique MGA platform with an impressive track record driven by an exceptional group of underwriters.”
He stressed the firm’s intention to back Boylan’s team as it scales into what he described as a world-class specialty underwriting business.
John and the Arcadian team have built a unique MGA platform with an impressive track record driven by an exceptional group of underwriters.
Mark Mauceri, Lee Equity’s
“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.
The combination of a clean exit for SiriusPoint, a committed capacity partnership through 2031, and fresh capital from Lee Equity sets Arcadian up for an aggressive growth phase—one that leans on underwriting discipline while testing just how far the MGA model can push into specialty risk.
