Accelerant(NYSE) ARX

Accelerant Holdings helps small businesses get insurance through local experts. It connects specialty insurance underwriters with partners who provide the money. Its platform makes buying and selling insurance faster and data-driven.

Connecting Capital and Risk

• Exchange Services: Technology platform that charges fees for connecting specialty underwriters with risk capital partners; generated $111.8 million in operating revenues (a non-GAAP measure) for the three-month period ended June 30, 2026.
• MGA Operations: Support for Managing General Agents, which are specialized agencies authorized to underwrite insurance, through fee-based services and incubation tools; produced $70.1 million in operating revenues for the three-month period ended June 30, 2026.
• Underwriting: Direct and assumed insurance business retained by the company to provide operational flexibility and align interests with partners; accounted for $133.9 million in operating revenues for the three-month period ended June 30, 2026.

Expanding the Network

• Entered an agreement on Aug. 13, 2026, to be acquired by Cherry Tree BidCo, an affiliate of Thoma Bravo, for $20.25 per share.
• Formed a partnership with WoodStar Reciprocal Exchange in the second quarter of 2026 to add $220 million in underwriting capacity.
• Expanded the member network to 314 active participants by June 30, 2026, an increase of 66 members over the previous 12 months.
• Launched the Mission Underwriters platform to provide start-up capital and operational tools to entrepreneurial specialty underwriters.

Building a Smarter Marketplace

Accelerant uses a proprietary technology exchange to reduce the delays and high costs typical of legacy insurance systems. The company connects local underwriting experts with institutional investors across the United States, Europe, Canada, and the United Kingdom.

Recent Financial Performance

• Total revenues were $356.9 million in the three-month period ended June 30, 2026, up from $219.1 million in the same period of 2025.
• Net income reached $80.0 million in the quarter ended June 30, 2026, compared to $13.1 million in the year-ago period.
• Exchange Written Premium, the total premium handled by the platform, grew 23% year over year to $1.32 billion in the second quarter of 2026.
• Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) was $93.1 million in the three months ended June 30, 2026, up from $63.6 million in the prior-year period.
• The company maintained a 111% net revenue retention rate as of June 30, 2026, reflecting growth from existing members.

Bottom Line

Accelerant has evolved into a global risk marketplace that replaces fragmented traditional insurance chains with a data-driven digital platform. By aligning the interests of underwriters and capital providers, it has scaled rapidly across multiple international markets.