Accelerant Announces First Quarter 2026 Results

First Quarter 2026 Results Exchange Written Premium of $1.14 billion grew 16% year-over-year Third-Party Direct Written Premium accounted for 41% of Exchange Written Premium volume Pre-tax income of $2 million, net loss of $4 million, net loss per diluted share of $0.02 Adjusted net income of $38 million increased 118% over the prior year, and adjusted net income per diluted share was up 113% to $0.17 Adjusted EBITDA of $66 million Repurchased 828,333 Class A common shares for $11 million Second Quarter and Full Year 2026 Outlook Exchange Written Premium expected to be $1.27 billion to $1.32 billion in the second quarter of 2026 and at least $5.2 billion for the full year 2026 Third-Party Direct Written Premium expected to be $580 million to $620 million in the second quarter of 2026 and at least $2.3 billion for the full year 2026 Adjusted EBITDA expected to be $60 million to $66 million in the second quarter of 2026 and at least $285 million for the full year 2026, including $276 million of fee-based (non-Underwriting Segment) Adjusted EBITDA ATLANTA--(BUSINESS WIRE)--Accelerant Holdings (NYSE: ARX), a data-driven company modernizing the specialty insurance marketplace through the Accelerant Risk Exchange, today announced financial results for the first quarter ended March 31, 2026. “We had an excellent first quarter. We delivered strong performance against all six of our KPIs, reflecting the ongoing momentum across our business,” said Jeff Radke, Chairman and CEO. “We are attracting and growing with the best MGAs, making them even better with our data, analytics and increasingly autonomous underwriting tools. And we are connecting them to diversified, committed and high-quality risk capital partners that are looking to generate attractive, predictable returns. We are well on our way to making Accelerant the rails on which specialty insurance runs.” “Our first quarter financial results are further proof in the underlying growth embedded in our business model,” said Linda S. Huber, Accelerant’s Chief Financial Officer. “Exchange Written Premium eclipsed $1 billion for the fourth quarter in a row, growing 16% year-over-year. Importantly, our fee-based operating revenue and adjusted EBITDA increased 52% and 112%, respectively, as we focus on growing our capital-light businesses. Looking ahead, we continue to expect a very strong 2026 driven by the high-quality and recurring fee generation of the Accelerant Risk Exchange.” Jeff Radke continued, “I’d like to welcome our two new independent Board members, David Talach and Simon Wainwright, who were elected at our annual general meeting of shareholders earlier this week. Both are highly skilled and talented executives and bring diverse perspectives that will be valuable to the Board and the management team. Accelerant will greatly benefit from their experience, expertise and counsel.” First Quarter 2026 Key Results Three Months Ended March 31, (in millions, unless indicated) 2026 2025 Number of members 296 232 Net revenue retention 116 % 157 % Exchange written premium $ 1,138.7 $ 985.2 Accelerant direct written premium 59 % 81 % Third-party direct written premium 41 % 19 % Accelerant-retained exchange premium 10 % 8 % Exchange written premium growth rate 16 % 69 % Total revenues $ 273.3 $ 178.0 Gross loss ratio 52.1 % 53.3 % Income before income taxes $ 2.0 $ 15.5 Net (loss) income $ (4.1 ) $ 7.8 Non-GAAP financial measures (1) Operating revenues (1) $ 273.2 $ 174.0 Adjusted EBITDA (1) $ 66.1 $ 38.8 Adjusted EBITDA margin (1) 24 % 22 % Adjusted net income (1) $ 37.7 $ 17.3 Adjusted earnings per diluted share (1) $ 0.17 $ 0.08 (1) Information regarding the non-GAAP financial measures included in this press release, including definitions of these measures, reconciliations to the most comparable GAAP measures and limitations related thereto, is described below under “Use of Non-GAAP Financial Measures” and in the tables attached to this press release. Beginning with first quarter of 2026, Accelerant updated definitions for these non-GAAP financial measures to exclude the impact of net realized and unrealized investment gains or losses. Net realized and unrealized investment gains were $0.1 million and $4.0 million in the first quarter of 2026 and 2025, respectively. Figures for the first quarter of 2025 in the table above were recast to reflect the new presentation. Conference Call Information Accelerant will host a webcast and conference call to discuss the first quarter financial results on May 14, 2026, at 8:00 a.m. ET. A live webcast of the call can be accessed on Accelerant’s Investor Relations website at https://investor.accelerant.ai. To access the call via telephone in North America, please dial 800-715-9871. For callers outside the United States, please dial +1 646-307-1963. Participants should reference the conference call ID code 6232893 after dialing in. A webcast replay of the call will be available on Accelerant's website at accelerant.ai in its Investors section for a year following the call. About Accelerant Accelerant is a data-driven risk exchange connecting underwriters of specialty insurance risk with risk capital providers. Accelerant was founded in 2018 by a group of longtime insurance industry executives and technology experts who shared a vision of rebuilding the way risk is exchanged – so that it works better, for everyone. The Accelerant Risk Exchange does business across 22 different countries and approximately 700 specialty insurance products. Accelerant generates revenue by charging fees on the Exchange Written Premium shared with Risk Capital Partners that rely on Accelerant to source, manage, and monitor portfolios of specialty risk. There was $4.34 billion in Exchange Written Premium during the trailing twelve months ended March 31, 2026. Accelerant harnesses advanced data analytics and AI to optimize risk management, align incentives across the insurance value chain, and provide transparent and efficient solutions for MGAs and Risk Capital partners globally. Forward-Looking StatementsRead the full story here

Accelerant Announces First Quarter 2026 Results

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