Accelerant mulling an IPO
Accelerant, an insurtech that offers underwriting software, is weighing an IPO or additional private share sale next year, CEO Jeff Radke told Reuters.
Why it matters: Insurance companies have been among the most willing to test the IPO waters this year.
Background: Focused on specialty insurance, Accelerant last raised $150 million in December at a $2.4 billion valuation.
- Its investors include Eldridge, Barings, Marshall Wace and Altamont Capital Partners.
The big picture: Radke’s comments come as risk has become a rising concern for insurers, with climate change-induced weather events throwing underwriting models out of whack.
- At the same time, “Other firms in the industry have been looking to capitalize on rising prices for commercial insurance and reinsurance to attract new investors,” Reuters notes.
State of play: Skyware Specialty debuted as the year's first IPO, raising $134 million in January.