Accelerant Holdings has reported its Q1 2026 results, with exchange written premium rising 16% year-on-year to $1.14 billion and adjusted EBITDA increasing by more than 70% as the firm continued scaling its data-driven specialty insurance platform.
Accelerant revealed that total revenues for Q1 2026 climbed to $273.3 million, up from $178 million in the same period of 2025, while operating revenues increased to $273.2 million from $174 million.
Meanwhile, the firm’s adjusted EBITDA rose sharply to $66.1 million in the opening quarter of the year from $38.8 million a year earlier, lifting adjusted EBITDA margin to 24% from 22%.
Accelerant also reported significant growth in membership across its Accelerant Risk Exchange, with the number of members increasing to 296 in Q1 2026 from 232 in Q1 2025.
The firm’s underlying underwriting performance also remained stable in the opening quarter of the year, with the gross loss ratio improving slightly to 52.1% from 53.3% in Q1 2025.
On a non-GAAP basis, adjusted net income more than doubled to $37.7 million from $17.3 million. Accelerant posted income before income taxes of $2 million, compared with $15.5 million in Q1 2025, while it recorded a net loss of $4.1 million against net income of $7.8 million a year earlier.
Linda S. Huber, Accelerant’s Chief Financial Officer, commented, “Our first quarter financial results are further proof in the underlying growth embedded in our business model.
“Exchange Written Premium eclipsed $1 billion for the fourth quarter in a row, growing 16% year-over-year. Importantly, our fee-based operating revenue and adjusted EBITDA increased 52% and 112%, respectively, as we focus on growing our capital-light businesses.
“Looking ahead, we continue to expect a very strong 2026 driven by the high-quality and recurring fee generation of the Accelerant Risk Exchange.”
Jeff Radke, Chairman and CEO of Accelerant, said, “We had an excellent first quarter. We delivered strong performance against all six of our KPIs, reflecting the ongoing momentum across our business.
“We are attracting and growing with the best MGAs, making them even better with our data, analytics and increasingly autonomous underwriting tools. And we are connecting them to diversified, committed and high-quality risk capital partners that are looking to generate attractive, predictable returns. We are well on our way to making Accelerant the rails on which specialty insurance runs.
“I’d like to welcome our two new independent Board members, David Talach and Simon Wainwright, who were elected at our annual general meeting of shareholders earlier this week. Both are highly skilled and talented executives and bring diverse perspectives that will be valuable to the Board and the management team. Accelerant will greatly benefit from their experience, expertise and counsel.”
