Accelerant
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The company expects to have $415mn to $430mn of third-party written premium in Q4. -
The Insurance Insider US news team runs you through the earnings results for the day.
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The firm's risk exchange platform was “highly dependent” on SME and specialty business, CEO Radke said.
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Shares opened at $28.50 each, well above the $21 offer price.
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The IPO was priced at $21 per share, up from the previous target range of $18-$20.
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The IPO price is expected to be $18-$20 per share.
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The company resumed work on a public offering in September.
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Permanence and independence of a public company would be valuable, he told this publication.
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The specialty insurance platform has now exceeded $3.1bn in premiums.
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The move comes amid improving conditions in the IPO market for insurance companies.
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The deal covered US and European P&C liabilities for Accelerant's 2020-2021 underwriting years.
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Sources said the company has halted its Q2 listing and will reassess the market next year.
