HomeBusiness InsuranceGrand Rapids-based Acrisure weighing IPO in 2024

Grand Rapids-based Acrisure weighing IPO in 2024

Deliberations are ongoing and no final decisions on the size or timing of an IPO have been taken, according to the people. Acrisure could also opt to stay private, they said. A representative for Acrisure declined to comment. 

Brokers like Acrisure, which act as intermediaries between businesses and insurance providers, have enjoyed rising revenue because of inflation. That’s because the runup in home prices and other assets that require insurance translate into higher fees for brokers when they connect clients with policies. Brokers including Marsh & McLennan Cos Inc. and Aon Plc have seen their stock price soar in the last 12 months.

Acrisure, which says its platform is powered by artificial intelligence, describes itself as the “fastest growing brokerage in industry history” with $4.1 billion in proforma revenue. It was the seventh-largest broker by revenue last year, according to trade publication Business Insurance. 

Its move to consider going public hints there may be an end in sight to the slump in the U.S. IPO market, which is on pace for its slowest year since at least 2009. Fast-casual restaurant chain Cava Group Inc. almost doubled in its trading debut this week. 

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