$ARX
Accelerant Holdings
CIK:0001997350|SEC Filings
Condensed Consolidated Statements of Operations (unaudited) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|||
| Revenues | ||||||
| Ceding commission income | $ 75.1 | $ 101.6 | $ 155.6 | $ 172.3 | ||
| Direct commission income | 92.5 | 34.2 | 143.3 | 62.3 | ||
| Net earned premiums | 129.1 | 70.6 | 258.9 | 133.6 | ||
| Net investment income | 7.2 | 12.8 | 19.3 | 25.0 | ||
| Net realized gains on investments | 26.0 | 0.4 | 26.1 | 2.7 | ||
| Net unrealized gains (losses) on investments | 27.0 | (0.5) | 27.0 | 1.2 | ||
| Total revenues | 356.9 | 219.1 | 630.2 | 397.1 | ||
| Expenses | ||||||
| Losses and loss adjustment expenses | 71.7 | 51.3 | 153.5 | 96.5 | ||
| Amortization of deferred acquisition costs | 34.8 | 18.2 | 68.4 | 35.3 | ||
| General and administrative expenses | [1] | 129.5 | 89.1 | 253.3 | 164.4 | |
| Interest expenses | 2.4 | 2.5 | 4.9 | 5.1 | ||
| Depreciation and amortization | 10.4 | 8.3 | 20.4 | 15.7 | ||
| Net foreign exchange (gains) losses | (6.1) | 14.2 | (4.2) | 17.3 | ||
| Other expenses | 26.8 | 13.2 | 44.5 | 25.0 | ||
| Total expenses | 269.5 | 196.8 | 540.8 | 359.3 | ||
| Income before income taxes | 87.4 | 22.3 | 89.4 | 37.8 | ||
| Income tax expense | (7.4) | (9.2) | (13.5) | (16.9) | ||
| Net income | 80.0 | 13.1 | 75.9 | 20.9 | ||
| Adjustment for net income attributable to non-controlling interests | (1.3) | (4.3) | (2.4) | (5.6) | ||
| Net income attributable to Accelerant common shareholders, basic | 78.7 | 8.8 | 73.5 | 15.3 | ||
| Net income attributable to Accelerant common shareholders, diluted | $ 78.7 | $ 8.8 | $ 73.5 | $ 15.3 | ||
| Net income attributable to Accelerant per common share: | ||||||
| Basic (in usd per share) | $ 0.36 | $ 0.05 | $ 0.33 | $ 0.09 | ||
| Diluted (in usd per share) | $ 0.36 | $ 0.04 | $ 0.33 | $ 0.07 | ||
| Weighted-average common shares outstanding: | ||||||
| Basic (in shares) | 218,412,430 | 166,185,094 | 220,188,399 | 166,185,094 | ||
| Diluted (in shares) | 219,690,786 | 205,948,671 | 221,095,865 | 205,913,393 | ||
| ||||||
Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions |
Jun. 30, 2026 |
Dec. 31, 2025 |
|---|---|---|
| Investments | ||
| Available for sale investments, at fair value | $ 662.2 | $ 712.0 |
| Equity method investments | 13.0 | 10.4 |
| Other investments | 88.1 | 84.0 |
| Total investments | 763.3 | 806.4 |
| Cash, cash equivalents and restricted cash | 1,656.3 | 1,799.3 |
| Premiums receivable (net of allowance 2026: $5.1 and 2025: $4.6) | 1,156.9 | 1,077.9 |
| Ceded unearned premiums | 1,775.6 | 1,812.4 |
| Reinsurance recoverables on unpaid losses and LAE | 2,092.9 | 1,682.3 |
| Other reinsurance recoverables | 941.8 | 594.2 |
| Deferred acquisition costs | 105.4 | 76.9 |
| Goodwill and other intangible assets, net | 110.5 | 115.1 |
| Capitalized technology development costs, net | 106.4 | 100.5 |
| Other assets | 234.2 | 198.1 |
| Total assets | 8,943.3 | 8,263.1 |
| Liabilities and shareholders' equity | ||
| Unpaid losses and loss adjustment expenses | 2,273.7 | 2,005.4 |
| Unearned premiums | 2,177.2 | 2,163.0 |
| Payables to reinsurers | 1,570.1 | 1,220.6 |
| Deferred ceding commissions | 225.1 | 232.5 |
| Funds held under reinsurance | 1,164.8 | 1,200.3 |
| Debt | 120.1 | 121.3 |
| Accounts payable and other liabilities | 668.3 | 593.6 |
| Total liabilities | 8,199.3 | 7,536.7 |
| Commitments and contingencies (Note 17) | ||
| Shareholders' equity | ||
| Common shares (par value $0.000001 per share, issued and outstanding 2026: Class A - 118,278,172; Class B - 98,639,873 and 2025: Class A - 114,580,918; Class B - 107,241,428) | 0.0 | 0.0 |
| Additional paid-in capital | 2,191.8 | 2,232.4 |
| Accumulated other comprehensive (loss) income | (11.0) | 2.2 |
| Accumulated deficit | (1,463.4) | (1,536.9) |
| Total Accelerant shareholders' equity | 717.4 | 697.7 |
| Non-controlling interests | 26.6 | 28.7 |
| Total equity | 744.0 | 726.4 |
| Total liabilities and equity | 8,943.3 | 8,263.1 |
| Short-term investments | ||
| Investments | ||
| Available for sale investments, at fair value | 86.4 | 41.6 |
| Fixed maturity securities | ||
| Investments | ||
| Available for sale investments, at fair value | $ 575.8 | $ 670.4 |