Insurance software provider Accelerant to be taken private for $4.4B
Accelerant Holdings Inc., a provider of software for the specialty insurance market, has agreed to be taken private by Thoma Bravo.
The companies announced the $4.4 billion transaction today. It values Accelerant at $20.25 per share, a 49% premium to its last unaffected stock price.
Specialty insurance covers high-value items that usually aren’t protected by standard policies. That category encompasses a wide variety of assets ranging from paintings to airplanes. Notably, data centers are also covered by specialty insurance.
Insurers don’t issue specialty insurance policies directly to customers. Instead, they go through intermediaries called managing general agents, or MGAs. An MGA serves a similar role as an insurance broker but has broader responsibilities: it can issue policies without requesting the insurer’s approval every time.
