Accelerant has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed underwritten initial public offering (IPO).

While the timing of the offering, number of Class A common shares to be offered and the price range for the proposed offering have not yet been determined, Accelerant revealed that it intends to list its Class A common shares on the New York Stock Exchange under the ticker symbol “ARX.”

As Reinsurance News understands, the net proceeds from the proposed offering are expected to be used primarily to redeem a portion of convertible preference shares and to pay a management fee to an affiliate of Altamont Capital, Accelerant’s equity sponsor.

The remaining funds will be allocated to general corporate purposes and to support underwriting capital needs as the company continues to grow.

Morgan Stanley is acting as the lead left active bookrunner, and Goldman Sachs is acting as the lead right active bookrunner.

Meanwhile, BMO Capital Markets and RBC Capital Markets are acting as active bookrunners for the proposed offering.

In related news, Accelerant CEO Jeff Radke recently noted in an interview with Reinsurance News that specialty insurance faces two key challenges: data loss caused by a fragmented value chain and a lack of affordable, accessible technology.

In response, Accelerant is working to reengineer the traditional business model. The company aims to simplify the specialty insurance value chain, which has historically been complex, lengthy, and inefficient, resulting in higher costs and subpar experiences for stakeholders.

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