Bermuda-based MGA Arcadian Risk Capital has announced that it has received regulatory approvals for new London and Dublin companies.
Arcadian UK standalone authorisation was approved by the Financial Conduct Authority on the 12th of August 2022 with Arcadian Ireland authorisation granted by the CBI Central Bank of Ireland on the 9th of August 2022.
According to the firm, the announcement indicates the next step in the evolution of Arcadian, which received approval from the Bermuda Monetary Authority in October 2020 and opened its office on the island on January 1st, 2021.
Led by CEO John Boylan, an industry executive with a three-decade track record in the global insurance market, the firm reported a GWP of $225m for 2021 following a year of growth.
Boylan commented, “We are pleased to announce the regulatory approvals for our London and Dublin companies.”
“It marks the next stage in our strategic journey and strengthens our value proposition as a global company offering superior service in the selection and structuring of risk management insurance products.”