Accelerant posts profit in first results after IPO

Specialty insurer Accelerant on Thursday reported a $13.1 million profit for the second quarter, its first public financial report after its initial public offering in July.

The company, which operates through partnerships with managing general agents, reported a $9.2 million loss for the same period last year.

Accelerant reported $219.1 million in total revenue, a 68.4% increase from the same period last year.

The company was launched in 2018 in Europe by CEO Jeff Radke and expanded to the United States in 2021. Its IPO raised $724 million.