01-07-2025
Accelerant files papers to go public in US
Accelerant Holdings, a specialty insurance marketplace connecting underwriters with capital providers, has filed for an initial public offering (IPO) with the US Securities and Exchange Commission.
The company intends to list these shares on the New York Stock Exchange under the ticker symbol 'ARX.'
The timing, number of shares to be offered, and the price range for the proposed offering have not yet been determined.
The company operates a technology-powered platform that connects specialty insurance underwriters, managing general agents (MGAs), referred to as 'Members,' with risk capital partners, including insurers, reinsurers, and institutional investors.
The platform aims to reduce information asymmetries and operational barriers in the traditional insurance value chain by leveraging proprietary technology to share high-fidelity data and insights with participants.
As of 31 March 2025, Accelerant reported 232 members and 96 risk capital partners on its platform and achieved a compounded annual growth rate of 217% in Exchange Written Premium since its inception.
For the same period, Accelerant recorded net income attributable to the company of $6.5m and total revenues of $178m.
The net proceeds from the proposed offering are intended to be used to redeem some convertible preference shares and fund a management fee payable to an affiliate of Altamont Capital, its investor.
The remainder will be allocated to general corporate needs and to support underwriting capital needs as the business grows.
In addition, Accelerant may utilise a part of the proceeds to purchase products, services, or technologies, or to acquire or invest in businesses, including MGAs, insurance intermediaries, insurance companies, technology firms, or service providers within its ecosystem.
Morgan Stanley is the lead left active bookrunner, with Goldman Sachs as the lead right active bookrunner.
BMO Capital Markets Corp. and RBC Capital Markets are active bookrunners for the offering.
Legal counsel for the validity of Accelerant's Class A common shares and related matters is being provided by Maples and Calder (Cayman) and Sidley Austin, while Conyers Dill & Pearman and Ropes & Gray are advising the underwriters.
"Accelerant files papers to go public in US " was originally created and published by Life Insurance International, a GlobalData owned brand.
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