NEW BERMUDIAN MGA ARCADIAN SEES UP TO $125M IN PREMIUMS IN 2021

New Bermudian managing general agent Arcadian Risk Capital, launched this month by former Markel executive John Boylan with the backing of Third Point Re, will target gross written premiums of $10m for the fourth quarter of 2020 and $75m to $125m for 2021, Third Point Re said. The bulk of Arcadian’s business is expected to be written in the US through large retail brokers, said Third Point Re, which in addition to providing capital will provide paper and capacity and place a quota-share reinsurance for the book of business. Arcadian will initially conduct business through its Bermudian platform, with a focus on excess casualty and professional liability lines. The MGA will initially write up to $15m in cover for any single insured in any particular line.