Accelerant Holdings reported first-quarter 2026 results, with exchange written premiums increasing 16% year over year to $1.14 billion and adjusted EBITDA growing more than 70% as the company continues to expand its data-driven specialty insurance platform.
Accelerant revealed that total revenue climbed to $273.3 million in the first quarter of 2026 from $178 million in the same period in 2025, and operating income increased to $273.2 million from $174 million.
At the same time, the company’s adjusted EBITDA increased significantly from $38.8 million in the same period last year to $66.1 million in the first quarter of this year, and the adjusted EBITDA margin increased from 22% to 24%.
Accelerant also reported significant membership growth in its Accelerant Risk Exchange, with the number of members increasing from 232 in the first quarter of 2025 to 296 in the first quarter of 2026.
The company’s underlying underwriting results also remained stable in the first quarter of this year, with gross loss ratio improving slightly to 52.1% from 53.3% in the first quarter of 2025.
On a non-GAAP basis, adjusted net income more than doubled to $37.7 million from $17.3 million. Accelerant reported income before income taxes of $2.0 million, compared with $15.5 million in the first quarter of 2025, compared with net income of $7.8 million and a net loss of $4.1 million in the year-ago period.
Linda S. Huber, Chief Financial Officer of Accelerant, commented: “Our first quarter financial results further demonstrate the potential growth of our business model.
“Exchange premiums exceeded $1 billion for the fourth consecutive quarter, up 16% year-over-year. Importantly, as we focused on growing our capital-light business, our fee-based operating income and adjusted EBITDA grew 52% and 112%, respectively.
“Looking ahead, we continue to expect a very strong 2026, driven by Accelerant Risk Exchange’s high quality and recurring fee generation.”
Jeff Radke, Accelerant chairman and chief executive officer, said: “We had a strong first quarter. All six of our key performance indicators (KPIs) were strong, reflecting the continued momentum of our business.
“We are attracting and growing with the best MGAs, making them better through our data, analytics and increasingly autonomous underwriting tools. We are connecting them with diverse, committed and high-quality venture capital partners who want to generate attractive, predictable returns. We are working hard to put Accelerant on the track for specialty insurance operations.
“I would like to welcome our two new independent board members, David Talach and Simon Wainwright, who were elected at our AGM earlier this week. Both are highly skilled and talented executives who bring a diverse range of perspectives that are valuable to the board and management team. Accelerant will benefit significantly from their experience, expertise and advice.”