Arcadian has promoted Nicole Barna to be its executive vice present, head of transactional liability underwriting in addition to her present role as underwriting counsel.
According to the firm, Barna joined Arcadian shortly after its inception in January 2021 as a Senior Vice President with responsibility for the development of Arcadian’s Transactional Liability book, now one of its largest product sectors.
John Boylan, CEO of Arcadian, said: “I am delighted to confirm Nicole’s promotion, subject to Bermuda Immigration approval. She has been a consistently outstanding performer at Arcadian since its inception, developing a well-structured and diversified account in addition to offering underwriting counsel to our various teams. This promotion is well deserved and reflective of her outstanding contribution at Arcadian.”
Barna’s promotion comes around two months after Arcadian reported gross written premiums of more than $225m in its first full year of operations.
The start-up, which is led by industry veteran John Boylan, launched in 2020 with Third Point Re (now SiriusPoint) as a partner.
At this time, Third Point Re, which made a significant capital contribution to Arcadian as well taking a minority stake in the MGA, said that it was targeting up to $125m of premium for 2021.
However, a year of rapid growth has seen the MGA exceed this total by more than $100m, with Arcadian announcing GWP of over $225m for 2021, with further growth expected in the following months. Additionally, the company saw rate increases of between 20% to 30%.
SiriusPoint-backed Arcadian writes General Liability, Professional Liability, and Property insurance.
