ATLANTA, October 13, 2023 — Accelerant, a data-driven risk exchange connecting underwriters of specialty insurance risk with risk capital providers, today announced its expansion into the Canadian market through the acquisition of Omega Insurance Holdings, Inc. from Till Capital Ltd.
“Accelerant’s entry into Canada is an exciting culmination of years of work to understand and meet the unique needs of Canadian managing general agents and program administrators,” said Jeff Radke, CEO and co-founder of Accelerant.
Accelerant was founded in 2018 by a group of longtime insurance industry executives and technology experts who shared a vision of rebuilding the way risk is exchanged — so that it works better, for everyone. Today Accelerant supports the needs of managing general agents and program administrators across the US, the UK, and Europe. The entry into Canada reflects Accelerant’s ambition to remove barriers on a global basis to reduce the friction underwriters face daily.
As of 2022, Canada has over 80 MGAs, according to Insurance Business Magazine, which calls MGAs one of the fastest-growing segments of the Canadian insurance market. Accelerant now has regulatory approval to welcome Canadian MGAs as Members, to whom the company provides all the services they require to succeed, including distribution management and operational, actuarial, regulatory, and capital support.
ABOUT ACCELERANT
Accelerant is a data-driven risk exchange connecting underwriters of specialty insurance risk with risk capital providers. Accelerant was founded in 2018 by a group of longtime insurance industry executives and technology experts who shared a vision of rebuilding the way risk is exchanged – so that it works better, for everyone. The Accelerant Group was awarded an “A-“ financial strength rating by A.M. Best which recently affirmed the Group’s stable outlook.
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Chelsea Allison
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