Hamilton, BERMUDA, January 12th, 2023 – Arcadian Risk Capital Ltd. (Arcadian), a Bermuda-based Managing General Agent (MGA) and part of the “Class of 2020”, announced that it has entered into a D&F Property binding arrangement with Aviva Insurance Ltd. UK.

The multi-year agreement will support and enhance the MGA’s short tail book of technically engineered, risk management business, written either as a direct insurance or facultative reinsurance placement. The account is underwritten from its London desk by seasoned market underwriter, Barry Marren.

The agreement is designed to cover risks located in accordance with Underwriter Worldwide licenses and permitted non-admitted status. The target portfolio will be Worldwide Industrial and Commercial property, mostly written on an excess of loss basis with a strong International bias.

This announcement marks another positive step in the evolution of the fast-expanding MGA, which received approval from the Bermuda Monetary Authority (BMA) in October 2020 and, more recentl,y from the Central Bank of Ireland (CBI) & the Financial Conduct Authority (FCA) in August 2022.

Mr Paul Connor, Chief Risk Officer, Arcadian, said: “We are pleased to announce this extension of our binder arrangements. It marks the next logical step in our strategic journey, into a market segment that we believe is primed for growth. We look forward to enhancing our relationship with Aviva.”

Mr Spencer Pimley, Senior Property Underwriting Manager of Aviva, commented: “This is a great opportunity for us to develop our relationship with Arcadian through this arrangement. We are delighted to offer capacity on Worldwide business, an area we have been expanding in across our property classes.”

The deal was arranged by Inver Re.