View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
August 25, 2022

Accelerant launches reinsurance sidecar vehicle Flywheel Re

Insurtech platform Accelerant has announced the launch of its $175m reinsurance sidecar vehicle, called Flywheel Re.

The new entity is designed to provide multi-year risk capital to Accelerant and its underwriting-led specialist members.

Accelerant is engaged in working with its members to achieve profitable growth in niche specialities.

Flywheel Re has been designed with a long-term structure in mind and the insurtech believes that the structure “is starkly different from typical historical catastrophe-focused sidecars.”

It is expected to support the firm’s underwriting capacity and performance.

Accelerant co-founder and CEO Jeff Radke said: “This is a natural extension of the work we have 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.”

Founded in 2018, the US-headquartered entity is focused on serving small and medium-sized businesses via advanced data and intelligence tools.

Goldman Sachs was the placement agent and Sidley Austin served as the legal counsel to Accelerant.

Earlier this year, the data-powered insurtech raised over $190m in funding at a pre-money valuation of $2bn.

Most recently, the firm announced that it has opened European Union headquarters in Brussels, Belgium.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy


Thank you for subscribing to Life Insurance International