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Runs a risk-exchange platform connecting specialty insurance underwriters (MGAs) with reinsurance capital providers.
Runs a risk-exchange platform connecting specialty insurance underwriters (MGAs) with reinsurance capital providers.
Takes fees on the insurance premium its member underwriters place through the exchange, so premium volume and the number of members drive revenue. Members are small specialty underwriters, called MGAs, that write policies on an insurer's behalf; risk capital comes from outside reinsurers and institutional investors who choose which business to back.
Moat: narrow (network effects, data). A growing two-sided network of underwriters and capital providers is hard for new entrants to replicate quickly.
Headquarters: Hamilton, Bermuda · Founded: 2018
Size Accelerant (ARX) is a United States Financials company (Property/Casualty Insurance) with a market value of $4.32B, the 1295th largest of 3,117 United States companies the cockpit tracks. Shares closed at $13.61 on 6 Nov 2026.
Performance Over six months the shares gained 19.2%, against +17.4% for the median peer and -1.1% for the United States market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 54.6% over the last twelve months (peer median +5.2%); the operating margin is 23.4% (peer median 14.7%).
Valuation It trades at 6.01× book value against a peer median of 1.75× (3rd most expensive of 21).
Price implies The share price implies a return on equity of about 23.2%; Accelerant delivers -380.1%, so the price asks more than the business earns today.
Short interest Short interest is 2.7% of the free float (15 Oct 2026).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $751M | $517M | $334M | $162M | $174M |
| Revenue growth | — | +55% | +106% | -7% | — |
| Net income | -$1.30B | -$1.35B | $27.2M | -$48.8M | -$91.7M |
| Capital expenditure | $44.0M | $41.4M | $34.4M | $32.6M | $26.7M |
| Total debt | $120M | $121M | $121M | $120M | n/a |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Accelerant ARX | $4.32B | +19% | +55% | -380% | 6.01× | 23.2% |
| Ryan Specialty RYAN | $12.0B | +52% | +9% | 19% | 12.86× | 61.4% |
| Skyward Specialty Insurance SKWD | $2.68B | +29% | +38% | 17% | 2.11× | 10.2% |
| Brown & Brown BRO | $23.9B | +28% | +26% | 10% | 1.87× | 11.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ARX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.4% | +8.6% | 10th lowest of 21 |
| 6-month return | +19.2% | +17.4% | 10th highest of 21 |
| Return on equity | -380.1% | 18.8% | lowest of 20 |
| Price / book | 6.01× | 1.75× | 3rd most expensive of 21 |
| ROE the price implies | 23.2% | 9.4% | 3rd most demanding of 21 |
| ROE delivered | -380.1% | 19.9% | lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Accelerant ARX | United States | $4.32B | +19% | +55% | -380% | 6.01× | 23.2% | -380.1% |
| Protector Forsikring PROT.OL | Norway | $4.19B | +4% | +12% | 35% | 5.34× | 18.1% | 35.2% |
| Palomar PLMR | United States | $4.10B | +37% | +60% | 22% | 4.16× | 17.0% | 22.2% |
| Mercury General MCY | United States | $4.58B | -17% | +5% | 26% | 1.63× | 13.7% | 25.5% |
| MGIC Investment MTG | United States | $5.87B | +7% | -2% | 14% | 1.18× | 8.9% | 13.9% |
| Selective Insurance SIGI | United States | $5.87B | +17% | +4% | 15% | 1.81× | 9.1% | 14.7% |
| SiriusPoint SPNT | United States | $3.06B | +12% | +23% | 23% | 1.34× | 9.5% | 23.1% |
| Hagerty HGTY | United States | $6.18B | +79% | +1% | 5% | 8.42× | 53.7% | 4.6% |
| NMI NMIH | United States | $2.94B | 0% | +8% | 15% | 1.10× | 7.9% | 15.4% |
| Definity Financial DFY.TO | Canada | $6.47B | +14% | +35% | 12% | 2.13× | 7.6% | 11.7% |
| Zenkoku Hosho 7164.T | Japan | $2.69B | +1% | +2% | 14% | 1.74× | 6.2% | 14.1% |
| Scor SCR.PA | France | $6.96B | +10% | -4% | 19% | 1.44× | 9.8% | 18.8% |
| HCI HCI | United States | $2.31B | +22% | +23% | 34% | 2.15× | 17.3% | 33.8% |
| Hyundai M&F INS 001450.KS | South Korea | $2.29B | +38% | -5% | 21% | 0.51× | 4.2% | 21.0% |
| Porch PRCH | United States | $2.26B | +80% | +20% | n/a | 345.11× | 5,821.2% | n/a |
| Lancashire LRE.L | United Kingdom | $2.24B | +18% | -2% | 22% | 1.49× | 12.7% | 21.8% |
| Hanover Insurance THG | United States | $8.35B | +28% | +5% | 22% | 2.43× | 11.2% | 21.8% |
| Horace Mann Educators HMN | United States | $2.16B | +20% | +4% | 12% | 1.46× | 7.9% | n/a |
| Kemper KMPR | United States | $1.97B | +10% | -4% | -19% | 0.90× | 9.4% | -19.3% |
| Safety Insurance SAFT | United States | $1.53B | +46% | +7% | 8% | 1.75× | 8.9% | 7.8% |
| Shinkong Insurance 2850.TW | Taiwan | $1.51B | +21% | +22% | 24% | 2.27× | 6.6% | 24.0% |