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Accelerant Holdings, together with its subsidiaries, operates a data-driven risk exchange that connects selected specialty insurance underwriters with risk capital partners. The company operates through Exchange Services, MGA Operations, and Underwriting segments. The Exchange Services segment consists of risk exchange, its operating platform that incorporates various technology, data ingestion, and agency operations that serve the needs of its members and risk capital partners. Its Risk capital partners write premiums directly through the Risk Exchange pay us a fixed-percentage, volume-based fee for sourcing, managing, and monitoring the business they write. The MGA Operations segment includes the fees earned by members, predominantly for originating and underwriting a portfolio of insurance policies, reduced by the expenses associated with providing services. The Underwriting segment is involved in underwriting insurance policies and assumption of reinsurance policies issued or accepted by consolidated insurance and reinsurance companies. Its Underwriting segment is a strategic asset that enables access to portfolio for current and prospective risk capital partners. The activities of insurance companies include property and casualty insurance, policy issuance, and reinsurance arrangements. The company focuses on small-to-medium sized commercial clients primarily in the United States, Europe, Canada, Australia, and the United Kingdom. The company was founded in 2018 and is based in Grand Cayman, Cayman Islands.
Source: TradingView
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
Accelerant Holdings is a publicly listed specialty insurance holding company that appears to focus on underwriting and capital management for niche commercial insurance and reinsurance risks. Long-term growth may be supported by demand for specialty coverage, rate cycles and efficient capital deployment, and investors may find exposure to underwriting margins and niche market positioning attractive.
Key investment risks include underwriting and catastrophe loss volatility, reliance on access to reinsurance and capital markets, regulatory and interest-rate sensitivity, and execution risk in scaling distribution.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | -1321.90M | 32.00M | -43.90M | -84.30M | -20.00M |
| Minority interest | -8.90M | 4.30M | 15.30M | 3.90M | 2.90M |
| Net income | -1354.10M | 27.20M | -48.80M | -91.70M | -21.50M |
| Selling general administrative | 428.10M | 262.40M | 198.70M | 121.20M | 65.50M |
| Selling and marketing expenses | 1379.70M | - | - | - | - |
| Gross profit | 595.20M | 349.00M | 199.50M | 78.60M | 63.50M |
| Reconciled depreciation | 35.20M | 26.60M | 14.50M | 5.80M | 1.60M |
| Ebit | -1252.90M | 64.40M | -28.80M | -80.10M | -17.10M |
| Ebitda | -1217.70M | 91.00M | -14.30M | -74.30M | -15.50M |
| Depreciation and amortization | 35.20M | 26.60M | 14.50M | 5.80M | 1.60M |
| Operating income | -1321.90M | 32.00M | -43.90M | -84.30M | -20.00M |
| Other operating expenses | 2201.40M | 565.70M | 373.60M | 297.40M | 123.20M |
| Interest expense | 69.00M | 32.40M | 15.10M | 4.20M | 2.90M |
| Tax provision | 23.30M | 9.10M | 20.20M | 11.30M | 4.30M |
| Interest income | 79.00M | 37.20M | 16.70M | 2.00M | 0.20M |
| Net interest income | -69.00M | -19.10M | -10.90M | -4.20M | -2.90M |
| Income tax expense | 23.30M | 9.10M | 20.20M | 11.30M | 4.30M |
| Total revenue | 879.50M | 597.70M | 329.70M | 213.10M | 103.20M |
| Total operating expenses | 1917.10M | 317.00M | 243.40M | 162.90M | 83.50M |
| Cost of revenue | 284.30M | 248.70M | 130.20M | 134.50M | 39.70M |
| Total other income expense net | 20.00M | -19.10M | -10.90M | -4.20M | -2.90M |
| Net income from continuing ops | -1345.20M | 23.14M | -64.10M | -95.60M | -24.30M |
| Net income applicable to common shares | -1425.00M | 27.20M | -48.80M | -91.70M | - |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 8263.10M | 6094.90M | 3737.20M | 2199.10M | 1155.50M |
| Intangible assets | 152.50M | 116.70M | 99.90M | 74.80M | 46.70M |
| Other current assets | -639.30M | 231.70M | 233.80M | -1168.20M | -635.30M |
| Total liab | 7536.70M | 5667.90M | 3450.50M | 1849.10M | 899.40M |
| Total stockholder equity | 697.70M | 408.70M | 310.50M | 354.50M | 257.90M |
| Other current liab | 3518.30M | 527.20M | 91.60M | -393.70M | -242.80M |
| Common stock | 0.00M | 0.00M | 0.00M | 0.00M | - |
| Capital stock | 0.00M | 486.20M | 381.80M | 381.10M | 173.80M |
| Retained earnings | -1536.90M | -182.80M | -210.00M | -161.20M | -69.50M |
| Good will | 63.10M | 30.90M | 20.70M | 18.30M | 12.60M |
| Other assets | 4600.40M | 6094.90M | 3737.20M | 2199.10M | 1155.50M |
| Cash | 1799.30M | 1225.70M | 775.40M | 446.20M | 301.90M |
| Cash and equivalents | 1799.30M | 1273.00M | 775.40M | 446.20M | - |
| Total current liabilities | 7201.50M | 541.80M | 101.10M | - | - |
| Current deferred revenue | 2163.00M | 193.00M | 120.40M | 84.50M | 30.20M |
| Net debt | -1678.00M | -1104.30M | -655.10M | -345.70M | -252.00M |
| Short term debt | 3.10M | 0.80M | 0.00M | 0.00M | - |
| Short long term debt total | 121.30M | 121.40M | 120.30M | 100.50M | 49.90M |
| Other stockholder equity | 2232.40M | 124.80M | 146.20M | 145.50M | 145.50M |
| Total current assets | 3547.60M | 5251.70M | 3284.10M | - | - |
| Long term investments | 722.40M | 562.50M | 226.90M | 260.50M | 146.90M |
| Short term investments | 712.00M | 64.80M | 8.00M | 62.80M | 38.20M |
| Net receivables | 1717.20M | 3729.50M | 2266.90M | 659.20M | 295.20M |
| Long term debt | 121.30M | 121.40M | 120.30M | 100.50M | 49.90M |
| Accounts payable | 1517.10M | 13.80M | 9.50M | 277.40M | 192.20M |
| Accumulated other comprehensive income | 2.20M | -19.50M | -7.50M | -10.90M | 8.10M |
| Non currrent assets other | -194.90M | 157.50M | 93.00M | -353.60M | -206.20M |
| Non current assets total | 115.10M | 843.20M | 453.10M | - | - |
| Long term debt total | 121.30M | 121.40M | 120.30M | 100.50M | - |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | -121.30M | -380.10M | -11.70M | -147.50M | -132.50M |
| Total cashflows from investing activities | -175.70M | -380.10M | -11.70M | -147.50M | -132.50M |
| Net borrowings | -0.80M | -0.70M | 18.00M | 51.30M | 49.50M |
| Total cash from financing activities | 207.90M | 110.30M | 10.30M | 254.70M | 233.70M |
| Net income | -1345.20M | 22.40M | -64.10M | -96.40M | -24.40M |
| Change in cash | 526.30M | 497.40M | 291.80M | 158.30M | 216.10M |
| Begin period cash flow | 1273.00M | 775.80M | 484.00M | 325.70M | 85.80M |
| End period cash flow | 1799.30M | 1273.20M | 775.80M | 484.00M | 301.90M |
| Total cash from operating activities | 445.10M | 785.50M | 289.90M | 65.70M | 112.70M |
| Issuance of capital stock | 392.00M | 114.50M | 0.70M | 204.80M | 184.20M |
| Depreciation | 35.20M | 26.60M | 14.50M | 5.80M | 1.60M |
| Other cashflows from investing activities | -168.10M | -1.30M | -0.10M | 0.60M | -0.10M |
| Change to account receivables | -1067.20M | -782.50M | -636.70M | -370.10M | -181.90M |
| Sale purchase of stock | -175.30M | 114.50M | 0.70M | 204.80M | - |
| Other cashflows from financing activities | -183.30M | 111.00M | -7.70M | 203.40M | 153.30M |
| Capital expenditures | 41.40M | 34.40M | 32.60M | 26.70M | 14.70M |
| Change in working capital | 397.80M | 801.10M | 356.50M | 157.90M | 127.70M |
| Stock based compensation | 43.10M | 8.40M | 4.80M | 0.00M | - |
| Other non cash items | 1346.20M | -32.10M | -22.10M | 4.20M | 9.50M |
| Free cash flow | 403.70M | 751.10M | 257.30M | 39.00M | 98.00M |
Sector: Financial Services Industry: Insurance Brokers
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
|---|---|---|---|---|---|---|---|
| ARX Accelerant Holdings |
- -% |
19.82 | - | 25.64 | 3.86 | 4.73 | 1.85 |
| MRSH Marsh & McLennan Companies, Inc. |
3.59 1.82% |
200.62 | 22.03 | 15.87 | 3.07 | 5.67 | 3.82 |
| AON Aon PLC |
0.21 0.07% |
321.85 | 19.50 | 17.61 | 4.19 | 7.68 | 4.95 |
| AJG Arthur J Gallagher & Co |
7.87 2.93% |
276.07 | 41.13 | 17.09 | 4.21 | 2.74 | 4.93 |
| WTW Willis Towers Watson PLC |
3.69 1.15% |
324.42 | 19.92 | 14.56 | 2.96 | 3.91 | 3.52 |
Accelerant Holdings, together with its subsidiaries, operates a data-driven risk exchange that connects selected specialty insurance underwriters with risk capital partners. The company operates through Exchange Services, MGA Operations, and Underwriting segments. The Exchange Services segment consists of risk exchange, its operating platform that incorporates various technology, data ingestion, and agency operations that serve the needs of its members and risk capital partners. Its Risk capital partners write premiums directly through the Risk Exchange pay us a fixed-percentage, volume-based fee for sourcing, managing, and monitoring the business they write. The MGA Operations segment includes the fees earned by members, predominantly for originating and underwriting a portfolio of insurance policies, reduced by the expenses associated with providing services. The Underwriting segment is involved in underwriting insurance policies and assumption of reinsurance policies issued or accepted by consolidated insurance and reinsurance companies. Its Underwriting segment is a strategic asset that enables access to portfolio for current and prospective risk capital partners. The activities of insurance companies include property and casualty insurance, policy issuance, and reinsurance arrangements. The company focuses on small-to-medium sized commercial clients primarily in the United States, Europe, Canada, Australia, and the United Kingdom. The company was founded in 2018 and is based in Grand Cayman, Cayman Islands.
Regatta Office Park, Grand Cayman, Cayman Islands, KY1-1108
345-743-4611
862
| Name | Title | Year Born |
|---|---|---|
| Mr. Jeffrey Lee Radke | Co-Founder, CEO & Director | 1969 |
| Mr. Christopher Lee-Smith | Co-Founder, Global Head of Distribution & Director | 1969 |
| Mr. Francis James O'Neill | Co-Founder & Chief Underwriting Officer | 1974 |
| Ms. Linda S. Huber | CFO, Principal Financial & Accounting Officer | 1959 |
| Mr. Pete Horst | Chief Technology Officer | NA |
| Mr. Raymond Iardella | Head of Investor Relations | NA |
| Mr. Cliff Jenks | General Counsel & Corporate Secretary | 1979 |
| Mr. Matthew David Sternberg | Chief Operating Officer of Risk Exchange | 1987 |
| Ms. Chelsea Perkins | Chief Claims Officer | NA |
| Mr. Ryan Schiller | Head of Strategy | NA |
Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.
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