Reinsurance News

Insurtech Accelerant launches $175mn reinsurance sidecar vehicle

24th August 2022 - Author: Jack Willard

Insurtech platform Accelerant has launched a new $175 million sidecar investment vehicle, called Flywheel Re.

accelerant-logoThe new sidecar will provide multi-year risk capital to Accelerant and its cohort of underwriting-led specialist members.

Goldman Sachs & Co. LLC served as exclusive placement agent to Accelerant and Sidley Austin LLP acted as legal counsel.

Founded in 2018, Accelerant works its underwriting-led members to drive market-leading profitable growth in niche specialists.

Additionally, Flywheel’s long-term structure is vastly different from stereotypical historical catastrophe-focused sidecars, an approach that continues to distinguish Accelerant as key innovator in driving better outcomes across the insurance industry, says the firm.

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“We’re thrilled to launch Flywheel and put it to work on behalf of our Members,” said Jeff Radke, CEO and co-founder of Accelerant.

“This is a natural extension of the work we’ve been doing to support specialist underwriters with additional capacity. But it also marks a major milestone in our journey as a company, and for the insurance industry at large.

“We are now expanding our focus and diversifying sources of capital alongside the traditional reinsurance market by bringing our portfolio of low-volatility commercial SME risks to institutional investors in an innovative structure that efficiently supports our Members’ growth.”

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