For the second quarter of 2026, Accelerant Holdings, the data-driven risk exchange platform active in the specialty insurance marketplace through the Accelerant Risk Exchange, has reported growth of 23% year-over-year in exchange written premium to USD 1.32 billion from USD 1.07 billion in Q2’25.
For the half-year 2026, Accelerant reported growth of 20% year-over-year in exchange written premium to USD 2.5 billion from USD 2.05 billion in Q2’25.
The firm explained that third-party direct written premium accounted for 47% of exchange written premium volume.
For the quarter, total revenues grew to USD 356.9 million, compared to USD 219.1 million in Q2’25. Total revenues for H1’26 grew to USD 630.2 million, compared to USD 397.1 million in H1’25.
The firm’s underlying underwriting performance also remained stable for Q2 and H1 2026, as the gross loss ratio grew to 52% from 50.5% in Q2’25 and 51.8% in H1’25.
Meanwhile, adjusted EBITDA for Q2’26 was USD 93.1 million and adjusted EBITDA margin was 30.6%, up from 29% in the prior year. For H1’26, EBITDA was USD 159.2 million, compared to USD 102.4 million in H1’25, as adjusted EBITDA margin grew to 28% from 26% in the same time period.
Additionally, Q2’26 saw pre-tax income of USD 87 million, and net income of USD 80 million. H1’26 reported a pre-tax income of USD 89.4 million, compared to USD 37.8 million in H1’25.
On a non-GAAP basis, adjusted net income increased by 165% to USD 70 million in Q2’26, compared to USD 26.4 million in Q2’25. For H1’26, adjusted net income increased to USD 107.7 million from USD 43.7 million in H1’25.
Simultaneously, Accelerant has entered into a definitive agreement with Thoma Bravo to become a privately held company in an all-cash transaction with an enterprise value of over USD 4 billion.
Jeff Radke, Chairman and Chief Executive Officer, Accelerant, commented, “Accelerant has been building the preeminent specialty insurance marketplace since our founding in 2018. I am proud of what the Accelerant teams has accomplished, and I believe partnering with Thoma Bravo, with their expertise, and vast financial and strategic resources will further position our unique, data-fueled platform to be the rails on which specialty insurance runs.”
He continued, “We had a great second quarter financially, operationally, and strategically. Financially, we delivered strong growth in exchange written premium, third-party premium, and adjusted EBITDA. Operationally, we continued to execute at a fast pace. We grew with third-party insurers and connected them directly to our Risk Capital Partners, and introduced our front-door data AI agent, ARC, which recognises, classifies, and structures data the moment it arrives to Accelerant.
“Strategically, we facilitated the formation of a new third-party insurance company and announced enhanced partnership agreements with three existing Accelerant Risk Exchange Insurers. We also rolled out new value-added services for Members including AI office hours and the Accelerant Talent Portal.”
Linda S. Huber, Chief Financial Officer, Accelerant, added, “Our second quarter financial results highlight the attractive growth and durability of our business. Exchange Written Premium grew 23% year-over-year and trailing twelve-month premiums are now $4.6 billion. Our fee-based operating revenue and adjusted EBITDA, which we define as consolidated results less the underwriting segment, increased 56% and 91%, respectively, compared to the 2025 second quarter. We look forward to working with Thoma Bravo to grow the business alongside our employees, Members, and Risk Capital Partners.”
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