Bob Wong

Bob Wong from Morgan Stanley asked about the partner mix within Accelerant's third-party premium as Hadron's contribution declines, specifically identifying partners expected to see substantial growth. He also inquired about the marginal decrease in the number of third-party reinsurance and institutional insurance partners and the circumstances under which partners would be moved off the platform.

Answer

Jeff Radke, Accelerant's Co-founder and CEO, stated that Lloyd's is expected to become a meaningful risk exchange insurer, and while all 17 third-party partners will grow substantially, 8-10 are expected to become very large. He explained that the decrease in partners was due to proactively moving off five very small reinsurance partners (less than 3% of premium) to allow larger partners to grow faster, emphasizing ample risk capital interest to handle double the current premium.

Bob Wong inquired about the partner mix for third-party premium, beyond Hadron, asking which specific partners are expected to drive substantial growth or if it will be an even mix. He also asked about the circumstances under which reinsurance and institutional partners might be moved off the platform, given a marginal decrease in partner count.

Answer

Jeff Radke, Accelerant's Co-founder and CEO, stated that while Lloyd's is expected to become a meaningful risk exchange insurer, all 16 other third-party insurers will need to grow substantially to meet targets, with 8-10 partners expected to become very large. He explained that the company proactively moved off five very small reinsurance partners (less than 3% of premium) to allow larger partners to grow faster, emphasizing ample risk capital interest to handle double the current premium.