Orion180 Insurance Group, an insurance provider offering innovative, tech-driven homeowners, flood, and property insurance solutions, has filed for a US initial public offering as the Florida insurer seeks a larger position in specialty homeowners and flood insurance.
The Melbourne-based company reported net income of $13.5 mn for the first six months of 2026, according to its filing with the US Securities and Exchange Commission.
Revenue reached $80.1 mn during the period. A year earlier, Orion180 posted a $3 mn net loss on revenue of $50.4 mn. The latest results mark a sharp improvement in profitability ahead of the planned public listing.
Founded in 2018, Orion180 focuses heavily on excess and surplus lines homeowners insurance.
The insurer generated $601 mn in direct written premiums during the 12 months ended June 30, according to the SEC filing. Its product range also includes flood insurance and additional property coverage distributed through more than 14,000 independent agents.
The company is entering public markets during rapid growth in specialty residential insurance.
US excess and surplus homeowners premiums reached $4 bn at the end of 2025, Orion180 said in its filing. The segment expanded at a 25% compound annual rate over the previous five years.
That growth has come as traditional homeowners insurers have become more selective in areas exposed to hurricanes, flooding and other costly property risks.
E&S insurers operate with greater pricing and underwriting flexibility than admitted carriers, giving the segment more room to write risks outside standard markets. Orion180 has built much of its business around this shift.
Its $601 mn of direct written premiums gives the company meaningful scale relative to the $4 bn E&S homeowners market described in the filing. Flood insurance adds another source of premium revenue within catastrophe-exposed property markets.
Founder Kenneth Gregg leads the company and will retain control following the IPO through his ownership of Class B shares.
Gregg received $2.6 mn in salary and bonus compensation during 2025, according to the filing. His annual base salary rises to $1.8 mn this year from $1.2 mn.
The IPO filing doesn’t yet specify the number of shares Orion180 plans to sell or the expected offering price.
A large group of investment banks is working on the transaction. Royal Bank of Canada and UBS Group AG are involved alongside Raymond James Financial Inc. and Goldman Sachs Group Inc.
Deutsche Bank AG, Citizens Financial Group Inc. and Texas Capital Securities are also working on the offering. Orion180 expects its shares to trade on the Nasdaq Global Select Market under the ticker OIG.
The planned listing gives public investors exposure to a property insurance segment growing faster than the broader homeowners market. Orion180 enters the process with rising revenue, positive first-half earnings and substantial premium volume from specialty property insurance.
