Insurance market platform Accelerant Holdings (ARX.US) IPO priced at $21 per share exceeded the upper limit, raising $724 million.

Insurance marketplace platform Accelerant Holdings, which works with insurance underwriting carriers and capital partners, issued 34.5 million shares at a price of $21 per share (with 41% coming from selling shareholders), raising a total of $724 million. The issue price was higher than the previously planned pricing range of $18 to $20. The company originally planned to issue 28.9 million shares, all of which were to come from insiders. At the issue price, Accelerant Holdings' diluted market value reached $4.7 billion. Accelerant operates a data-driven risk exchange that connects selected professional insurance underwriters with risk capital partners. On the "supply side" of their exchange, the company provides underwriters with comprehensive services including insights and analytics, distribution management, operational resources, and a commitment to stable underwriting capacity. On the "demand side", the company offers specialized insurance premium portfolios to risk capital partners that may be hard to obtain through other channels. As of March 31, 2025, Accelerant has 232 members and 96 risk capital partners on its platform. Since its inception, the exchange's written premiums have grown at a compound annual growth rate of 217%. Accelerant Holdings plans to list on the New York Stock Exchange under the ticker symbol ARX. Morgan Stanley, Goldman Sachs, Montreal Bank Capital Markets, Royal Bank of Canada Capital Markets, Fidelity Securities, Piper Sandler, William Blair, Raymond James, and TD Securities will serve as joint bookrunners for this transaction.