Accelerant
-
The firm's risk exchange platform was “highly dependent” on SME and specialty business, CEO Radke said. -
Shares opened at $28.50 each, well above the $21 offer price.
-
The IPO was priced at $21 per share, up from the previous target range of $18-$20.
-
The IPO price is expected to be $18-$20 per share.
-
The company resumed work on a public offering in September.
-
Permanence and independence of a public company would be valuable, he told this publication.
-
The specialty insurance platform has now exceeded $3.1bn in premiums.
-
The move comes amid improving conditions in the IPO market for insurance companies.
-
The deal covered US and European P&C liabilities for Accelerant's 2020-2021 underwriting years.
-
Sources said the company has halted its Q2 listing and will reassess the market next year.
-
Conifer aims to improve risk assessment and enhance underwriting.
-
Woodlands Financial Services listing is likely in Q2, but overall environment is subdued.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
It is understood that Morgan Stanley was selected as lead underwriter in the process, with Q1 seen as the likeliest timing for a listing.
-
The carrier could be the first tech-enabled underwriting business to test public investor appetite since the heady days of 2020.
-
Sources said the Atlanta-based InsurTech is likely to explore a dual track, with a potential sale looked at alongside the IPO.
-
The platform will connect MGAs with capacity from a wide range of providers.
-
The executive worked at CoreLogic after a 25-year stint in the broking business, including spells at Guy Carpenter and Holborn.
-
-
Through a quota share deal, FlyWheel will enable investors to support Accelerant’s portfolio of low-limit, low volatility commercial SME primary risks.
-
The InsurTech will now broaden its data, analytics and risk exchange services to new partners in lines beyond the SME space.
-
The deal is the latest for Accelerant, which acquired farm insurance provider Agribusiness Risk Underwriters earlier this month, and an admitted lines subsidiary from Brit in March.
-
The NC target says the change of ownership supports its expansion from poultry into other farming classes.
-
The deal comes after the start-up last December formed an excess and surplus lines carrier.
