ARX — what changed in the latest 10-Q
A section-by-section comparison of ARX's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-13 vs the prior 10-Q · 2025-11-12
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +122 | −154 | ~71 | 83 |
| Market risk (Item 3) | Text added/removed | +1 | 0 | ~4 | 11 |
| Controls & procedures | Text added/removed | +1 | −1 | ~1 | 0 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | +4 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-13
We operate a data-driven risk exchange that connects selected specialty insurance underwriters (the “supply side” of our platform) with Risk Capital Partners (the “demand side” on our platform). Our Accelerant Risk Exchange reduces information asymmetries and operational barriers present in the trad…
The Accelerant Risk Exchange simplifies the traditional insurance value chain which is fragmented, costly, and inflexible. Legacy technology, excessive intermediation, and misaligned incentives cause data leakage, high costs, and wasted resources for participants. Our technology-powered platform add…
By harnessing our proprietary technology, access to data, and industry experience, we believe we have created the preeminent marketplace of the specialty insurance industry. As of March 31, 2026, we had 296 Members (an increase of 16 Members since December 31, 2025) and 96 Risk Capital Partners on o…
The vast majority of our Members are independent third parties in which Accelerant has no ownership stake. We refer to these Members as “Independent Members.” Each Independent Member enters into a long-term contract with Accelerant where it agrees to underwrite certain types of policies through the …
(1) The year-over-year growth rate of 16% for the three months ended March 31, 2026 was suppressed relative to prior periods as it reflects our placement of certain Members into runoff. Excluding that Member, Exchange Written Premium grew by $204.1 million (or 22%) for the three months ended March 3…
Text removed vs the prior filing · source: 10-Q · 2025-11-12
On July 25, 2025, the Company completed its IPO. For additional information regarding the related net proceeds, equity impact, use of proceeds and expenses associated with the Accelerant Holdings LP distribution and our equity award plans, refer to Note 10 and Note 12 to our interim condensed consol…
We operate a data-driven risk exchange that connects selected specialty insurance underwriters (the “supply side” of our platform) with Risk Capital Partners (the “demand side” on our platform). Our Risk Exchange reduces information asymmetries and operational barriers present in the traditional ins…
The Accelerant Risk Exchange simplifies the traditional insurance value chain which is fragmented, costly, and inflexible. Legacy technology, excessive intermediation, and misaligned incentives cause data leakage, high costs, and wasted resources for participants. Our technology-powered platform add…
By harnessing our proprietary technology, access to data, and industry experience, we believe we have created the future marketplace of the specialty insurance industry. As of September 30, 2025, we had 265 Members (an increase of 17 Members since June 30, 2025) and 92 Risk Capital Partners on our p…
The vast majority of our Members are independent third parties in which Accelerant has no ownership stake. We refer to these Members as “Independent Members.” Each Independent Member enters into a long-term contract with Accelerant where it agrees to underwrite certain types of policies through the …
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-05-13
The overall impact for the three months ended March 31, 2026 is reduced due to offsetting impacts to the Consolidated Statement of Operations from the remeasurement of transactions in currencies other than the local operation’s functional currency and from foreign exchange gains recognized in other …
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-05-13
Accelerant Holdings' management, with the participation of the Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of Accelerant Holdings' disclosure controls and procedures as defined in Rule 13a-15(e) and Rule 15(d)-15(e) under the Securities Exchange Act of 1934, as a…
Text removed vs the prior filing · source: 10-Q · 2025-11-12
Disclosure controls and procedures are designed to ensure that information required to be disclosed in reports filed or submitted under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), is recorded, processed, summarized and reported within the time periods specified in SEC rules…
Other information
Text added vs the prior filing · source: 10-Q · 2026-05-13
•On March 24, 2026, Jeff Radke, Chief Executive Officer, entered into a Rule 10b5-1 trading arrangement intended to satisfy the affirmative defense of Rule 10b5-1(c), with a term scheduled to end on June 21, 2027, relating to the sale of the lesser of (1) 4,160,000 Class A common shares, or (2) a nu…
•On February 18, 2026, Frank O'Neill, Chief Underwriting Officer, terminated a Rule 10b5-1 Trading Plan intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act that he had previously entered into on December 8, 2025. On March 23, 2026, Mr. O'Neill entered into a Rule 10b…
•On March 23, 2026, Christopher Lee-Smith, Head of Distribution, entered into a Rule 10b5-1 trading arrangement intended to satisfy the affirmative defense of Rule 10b5-1(c), with a term scheduled to end on April 1, 2027, relating to the sale of up to 1,767,000 Class A common shares of the Company, …
The Company encourages the use of Rule 10b5‑1 plans to facilitate long‑term financial, tax and liquidity planning by executives.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice