Accelerant, a data-driven risk exchange, has expanded its presence into the Canadian market by acquiring Omega Insurance Holdings, Inc. from Till Capital Ltd.
While the exact value of the deal was not disclosed, this strategic move aims to meet the unique needs of Canadian managing general agents and program administrators.
Accelerant’s entry into the Canadian market signifies the culmination of extensive efforts to understand the unique requirements of Canadian managing general agents and program administrators.
The expansion aligns with Accelerant’s goal to eliminate global barriers, making it easier for underwriters to operate daily. Accelerant has received regulatory approval to welcome Canadian MGAs as members, offering essential services such as distribution management, operational support, actuarial services, regulatory compliance, and capital assistance.
This strategic acquisition demonstrates Accelerant’s commitment to removing barriers and providing a seamless exchange for underwriters worldwide. By expanding into Canada, Accelerant aims to enhance its service offerings and meet the evolving demands of managing general agents in this thriving market.
Accelerant was founded in 2018 by a group of longtime insurance industry executives and technology experts who shared a vision of rebuilding the way risk is exchanged. The firm connects underwriters of specialty insurance risk with risk capital providers
Jeff Radke, CEO and co-founder of Accelerant, said, ‘Accelerant’s entry into Canada is an exciting culmination of years of work to understand and meet the unique needs of Canadian managing general agents and program administrators.”
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
