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Orion180 Insurance Group Inc.
OIG · Insurance
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IPO lead managers: RBC Capital Markets, UBS Investment Bank, Raymond James, Goldman Sachs, Deutsche Bank Securities, Citizens Capital Markets, Texas Capital Securities. Implied valuation at the top of the price range is approximately $1.7 billion.
About the business
Orion180 Insurance Group Inc. is a specialty homeowners insurer founded in 2018 by Kenneth Gregg in Melbourne, Florida. It is a technology-driven player in the excess & surplus (E&S) homeowners market and, as of June 30, 2026, the second-largest E&S homeowners insurer in the U.S. by direct written premiums. The business spans three product lines — E&S coverage for coastal and catastrophe-exposed homes, admitted homeowners policies for lower-risk areas, and standalone private flood insurance — sold through a network of more than 14,000 independent agents across 14 states, concentrated in California, Florida and Texas. Orion180 has made the Inc. 5000 fastest-growing companies list three years running: premiums grew 69% in 2025, and managed premiums written reached $601 million for the twelve months ended June 30, 2026. First-half 2026 revenue was $80.1 million (versus $50.4 million a year earlier), with net income of $13.2 million versus a $3 million net loss in the same period last year. The company's growth tracks a broader expansion of the U.S. E&S homeowners market, which grew 29.5% nationally to $4.14 billion in 2025 as traditional admitted insurers pulled back from catastrophe-exposed states.