Orion180 Insurance Group Targets $340 Million U.S. IPO

Orion180 Insurance Group Inc., a specialty homeowners and flood insurer based in Melbourne, Florida, filed with the U.S. Securities and Exchange Commission on Wednesday to raise up to $340 million in an initial public offering. The company is marketing 20 million shares of Class A common stock at $15 to $17 per share.

Orion180 has requested that its Class A common stock be listed on the Nasdaq Global Select Market under the ticker 'OIG.' The company, which began operations in 2018, has become the United States' second-largest excess and surplus lines homeowners insurance provider measured by direct written premiums, with a footprint in 14 states. For the twelve months ended June 30, 2026, managed premiums written totaled approximately $601 million, and cumulative policies sold exceed 670,000.

Orion180's product offerings span excess and surplus and admitted homeowners' insurance, private flood coverage and ancillary products, distributed through a network of more than 14,000 active independent agents as of June 30, 2026. The business includes Services Companies that provide managing general agent, claims management and other insurance functions, as well as In-House Fronting Carriers that issue policies while reinsuring the majority of risk with reinsurance partners.

The company posted net income of $16.3 million for the year ended December 31, 2025, compared with a net loss of $288,000 in 2024. For the six months ended June 30, 2026, net income was $13.5 million, versus a net loss of $3 million in the same period a year earlier. Since inception, Orion180 has maintained an average direct loss ratio of 36% as of December 31, 2025.

Underwriters have a 30-day option from the prospectus date to buy an additional 3 million shares of Class A common stock at the initial offering price, less underwriting discounts and commissions. RBC Capital Markets, UBS Investment Bank and Raymond James are serving as lead underwriters, with participation from Goldman Sachs & Co. LLC, Deutsche Bank Securities, Citizens Capital Markets and Texas Capital Securities.

This article was generated with AI support and reviewed by an editor; additional details are available in the original terms and conditions.