Insurtech Accelerant launches $175mn reinsurance sidecar vehicle

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

The 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.

“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.

Read the full article: Reinsurance News

Share this article: