Orion180 Insurance Group is seeking to raise as much as $340 mn in an initial public offering. Florida-based specialty homeowners and flood insurer plans to sell 20 mn shares at $15 to $17 each.
At the top of the proposed range, Orion180 would have a market value of approximately $1.7 bn based on the shares outstanding after the offering. The company disclosed the terms in a filing with the US Securities and Exchange Commission.
Orion180 reported net income of $13.2 mn on revenue of $80.1 mn during the first six months of 2026. That compares with a net loss of $3 mn on revenue of $50.4 mn in the same period a year earlier.
The insurer generated $601 mn in direct written premiums during the 12 months ended June 30. The figures show substantial growth in premium volume and revenue ahead of the planned listing.
Founder Kenneth Gregg will retain control of Orion180 after the IPO through his ownership of Class B shares. The filing indicates that the dual-class structure will preserve his voting control once the company becomes publicly traded.
The proposed listing comes during an active year for US equity offerings. Companies have raised $160.6 bn through US IPOs in 2026, excluding blank-check companies and other financial vehicles, according to Bloomberg data.
The weighted average performance of US IPOs has been about 14% since the beginning of the year. Results have varied widely among larger listings, however.
Pershing Square USA, the closed-end fund backed by Bill Ackman, was down 24% from its April debut. Quantinuum had fallen 16% since listing in June, while SpaceX was up 14% following its June IPO.
Royal Bank of Canada, UBS, Raymond James and Goldman Sachs are working on Orion180’s offering. Deutsche Bank, Citizens Financial Group and Texas Capital Securities are also advising on the transaction.
Orion180 expects its shares to trade on the Nasdaq Global Select Market under the ticker OIG. The final offering size and valuation will depend on the price set when the IPO is completed.
