Accelerant Holdings
accelerant.aiWhat Do They Do?
Connects specialty insurance underwriters with insurance and reinsurance companies and institutional investors through a data-driven marketplace, while providing underwriters with analytics, distribution and operational support.
10-K for FY2025, filed Mar 18, 2026
How Do They Make Money?
Insurance and reinsurance companies and institutional investors pay a percentage-based fee for Accelerant to source, manage and monitor specialty insurance policies; fees recur when policies renew. The company also earns agency commissions, income from its owned agencies, and insurance premiums and investment income from business written by its insurers.
10-K for FY2025, filed Mar 18, 2026Our Exchange Services segment generates revenue through a fixed-percentage, volume-based fee that our Risk Capital Partners pay to us for…View ↗
Our MGA Operations segment includes both Mission Underwriters’ consolidated results and those of Owned Members in which we have an equity…View ↗
Our Underwriting segment captures the net commissions from reinsurers and the net underwriting result from retained business that is…View ↗
The Accelerant Risk Exchange simplifies the traditional insurance value chain which is fragmented, costly, and inflexible. Legacy…View ↗
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10-K for FY2025, filed Mar 18, 2026
FY2025 revenue by reportable segment ↗
$912.9M
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10-K for FY2025, filed Mar 18, 2026
$912.9M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Exchange Services
Usage-based
10-K for FY2025, filed Mar 18, 2026 |
37% |
Exchange Services, FY2025
$334.9M Sources
|
Usage-based |
|
MGA Operations
|
27% |
MGA Operations, FY2025
$249.1M Sources
|
|
|
Underwriting
Recurring
10-K for FY2025, filed Mar 18, 2026 |
47% |
Underwriting, FY2025
$430.9M Sources
|
Recurring |
Who Are Their Customers?
Specialty underwriters, typically managing general agencies, contract with Accelerant to write policies through the exchange. Insurers, reinsurers and institutional investors provide capital, with some insurers accessing policies directly and others participating through reinsurance.
10-K for FY2025, filed Mar 18, 2026The Accelerant Risk Exchange simplifies the traditional insurance value chain, which is fragmented, costly, and inflexible. Legacy…View ↗
Our commitment to selecting the best Members, optimizing Member performance and providing full data transparency has attracted a growing…View ↗
The vast majority of our Members are independent third parties in which Accelerant has no ownership stake. We refer to these Members as…View ↗
Our Risk Capital Partners (“Demand Side” of the Risk Exchange)View ↗
Currently, our Risk Capital Partners include third-party insurance companies, reinsurance companies, and institutional investors. As of…View ↗
Do Revenues Turn Into Profits?
No. It lost $1.3B in FY2025.
10-K for FY2025, filed Mar 18, 2026
10-K for FY2025, filed Mar 18, 2026
−$1.3BView ↗
How Are They Changing?
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Aug 14, 2026
Agreed to be acquired by Thoma Bravo
If completed, Accelerant would become a wholly owned subsidiary and its shares would be delisted.
Sources
8-K, filed Aug 14, 2026
On August 13, 2026 (the “Signing Date”), Accelerant Holdings, a Cayman Islands exempted company (the “Company”), entered into an Agreement…View ↗
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Aug 13, 2026
Withdrew 2026 guidance amid the pending transaction
Accelerant said it would not provide third-quarter or full-year guidance because of the pending transaction.
Sources
8-K, filed Aug 13, 2026
Given the agreement with Thoma Bravo, the Company will not be hosting a conference call to discuss its results for the second quarter ended…View ↗
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