Insurtech Accelerant launches $175m reinsurance sidecar Flywheel Re

Insurtech  Accelerant, a provider of data analytics and risk exchange, has launched a new $175 million sidecar vehicle Flywheel Re.

Flywheel will provide multi-year risk capital to Accelerant and its underwriting-led specialist members.

Accelerant claims the Flywheel’s long-term structure is "starkly different" from typical historical catastrophe-focussed sidecars.

Accelerant was founded in 2018 with the aim to rebuild the way that underwriters share and exchange risk. It works with its underwriting-led members to drive profitable growth in niche specialties.

Jeff Radke (pictured), CEO and co-founder of Accelerant, said: “We’re thrilled to launch Flywheel and put it to work on behalf of our Members. 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.

“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.”

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