(Reuters) -Billionaire sports financier Todd Boehly-backed Accelerant was valued at $6.4 billion as its shares jumped 36% in their New York debut on Thursday, adding to a string of insurance listings since Liberation Day.
The company's stock opened at $28.50 apiece, above the $21 offer price. Accelerant and some of its backers sold roughly 34.5 million shares in an upsized IPO to raise $724 million.
The strong debut adds to growing momentum for insurance IPOs that have emerged as a key theme in the new
listings market since Liberation Day with a string of companies successfully pulling off first-time share sales.
Aspen Insurance, American Integrity Insurance, Ategrity Specialty Insurance and Slide Insurance have completed IPOs in New York since May.
"The tariff-induced volatility has triggered a classic flight to quality, forcing investors to prioritise predictable cash flows over speculative growth," said Lukas Muehlbauer, IPOX research associate.
"Insurance companies are the primary beneficiaries of this shift in risk appetite, as their defensive business models are more suited to withstanding economic uncertainty."
Founded in 2018 by a group of industry veterans, Accelerant operates as an insurance marketplace connecting niche sellers with institutional investors, using data to make the process faster, cheaper and smarter.
Besides Boehly's Eldridge, Accelerant's backers include investment firms Altamont Capital Partners and Barings. It was valued at $2.4 billion in a 2023 funding round.
Muehlbauer said he expects the IPO market momentum to extend into the back half of 2025 if macro volatility remains contained, with a focus on further debuts from companies with strong fundamentals.
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Maju Samuel)
