SiriusPoint to sell 49% equity stake in Arcadian Risk Capital for $139M

SiriusPoint (SPNT) announced its agreement to sell its 49% equity stake in managing general agent, Arcadian Risk Capital to Lee Equity Partners for total consideration of $139M, inclusive of a pre-close dividend. SiriusPoint has also renewed and extended its capacity agreement with Arcadian until the end of 2031. Upon completion of the sale, SiriusPoint will recognize a pre-tax gain of $25M-30M, in addition to the previously recognized $96M gain in the second quarter of 2024. Arcadian produced $17.6M of EB ...