SiriusPoint Sells Arcadian Stake to Lee Equity for $139M with Capacity Deal

SiriusPoint, a reinsurer, has agreed to sell its 49% equity stake in managing general agent Arcadian Risk Capital to Lee Equity Partners for $139 million.

The deal includes an extended capacity agreement with Arcadian that will remain in place until the end of 2031. Arcadian, established in Bermuda in 2020, operates across Bermuda, Ireland, the UK, and the US, with an underwriting portfolio that includes general liability, excess and surplus casualty, professional liability, and property insurance. The transaction is expected to close by the end of Q1 2026, subject to standard conditions.

Following the deal, Arcadian’s management and staff will continue to hold a significant share along with SiriusPoint. SiriusPoint anticipates recognizing a pre-tax gain of $25-30 million from the sale, adding to a previously recorded gain of $96 million in Q2 2024. Arcadian currently reports earnings before interest, taxes, depreciation, and amortization (EBITDA) of $17.6 million. The partnership highlights a strategic shift to accelerate growth and expand underwriting capacity through collaboration with Lee Equity Partners, which brings expertise in the specialty insurance sector.

Additionally, SiriusPoint continues its commitment to Arcadian by extending their capacity agreement and recently provided capacity backing to Arden Insurance Services for wildfire risk insurance, reflecting ongoing market interests in specialty underwriting and risk management solutions.