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Orion180 files for IPO as excess and surplus homeowners demand rises
The specialty homeowners insurer reported about $601 million in managed premiums for the 12 months ended June 30, and says it secured a $1.15 billion reinsurance program for 2026.
Orion180 Insurance Group Inc. has filed an S-1 with the SEC for a proposed IPO of its Class A common stock, seeking a Nasdaq listing under the ticker OIG, according to Insurance Business. The Melbourne, Florida-based company was founded in 2018 by Kenneth Gregg and has expanded organically into a multiline specialty homeowners insurer operating across 14 states.
The filing describes Orion180’s distribution model through more than 14,000 active independent agents as of June 30. It reports approximately $601 million in managed premiums written for the 12 months ended June 30, and first-half 2026 revenue of $80.1 million, up from $50.4 million a year earlier. It also shifted to net income of $13.5 million in H1 2026 from a net loss of $3 million in H1 2025, the filing says.
Orion180 said it recorded 69% premium growth in 2025 and has a 2026 reinsurance program of $1.15 billion, up 36% from its 2025 tower, supported by 41 reinsurers. The insurer attributes its growth backdrop to changes in the excess and surplus homeowners market, including admitted carrier withdrawals from catastrophe-exposed states and faster displacement in California, Florida, and Texas due to climate-related losses.
Insurance Business also notes that Orion180 positions itself as the second largest E&S lines homeowners insurance provider in the US by direct written premiums in its S-1. The filing does not disclose a share count, price range, or targeted IPO proceeds, and lists RBC Capital Markets, UBS Investment Bank, and Raymond James as the firms serving as underwriters.
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