Insurtech firm Accelerant is set to expand its presence into the Canadian market through the acquisition of Omega Insurance Holdings, Inc., from Till Capital Ltd.
Omega Insurance Holdings offers secure, innovative and customized solutions for re/insurers entering and exiting the Canadian insurance market.
Jeff Radke, CEO and co-founder of Accelerant, commented: “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.”
As of 2022, Canada is said to have over 80 managing general agents (MGAs).
At the same time, Accelerant now has regulatory approval to welcome Canadian MGAs as members, to whom the company provides all the services they require to succeed, which includes distribution management and operational, actuarial, regulatory, and capital support.
In related news, Accelerant recently provided capacity to Rainbow’s new Business Owner’s Policy (BOP) for the restaurant industry.
Earlier this year, it was reported that Accelerant is planning to raise new capital in 2024 in a deal that could result in the firm making its debut on the stock market.
