Insurtech platform Accelerant has opened its European Union headquarters in Brussels, Belgium as part of its strategy to grow its business in the region. 

The data-powered firm said Brussels was chosen for its geographic location, availability of workforce and links to the insurance industry. 

Accelerant is focused on serving small and medium-sized businesses with advanced data and intelligence tools.

It works with a ‘carefully selected and managed’ network of managing general agents (MGAs), which it calls members.

Accelerant CEO Jeff Radke said: “Since we launched Accelerant in Europe, we have been blown away by demand for our unique combination of data-driven insight and long-term partnership. We are thrilled to continue to expand in Europe and formally open our doors in Brussels, where we hope to continue to provide our Members with the transparent partnership they deserve in order to continue driving profitable growth.”

Accelerant Insurance Europe S.A., which was formed last year, is authorised to trade across the EU and the UK. 

It is regulated by the National Bank of Belgium and the Financial Services and Markets Authority.

The European arm is engaged in underwriting a range of non-life insurance offerings. 

The insurtech also serves members in the US and operates a reinsurance company in Bermuda. 

Earlier this year, Accelerant raised $190m in funding at a $2bn pre-money valuation.  The round was led by Eldridge and saw participation from Deer Park, Marshall Wace, MS&AD Ventures and Altamont Capital Partners.