Orion180 Insurance, a Melbourne, Florida-based specialty homeowners insurer, priced its initial public offering at $12 per share, falling short of its targeted range of $15 to $17. This pricing allowed the company to raise $240 million through the sale of 20 million shares. The company's IPO valuation was approximately $1.2 billion, which some analysts suggest reflects market caution regarding the insurer's growth prospects.
The shares of Orion180 are expected to commence trading on the Nasdaq Global Select Market on September 18, 2026, under the ticker symbol "OIG." The offering is anticipated to close on September 21, 2026. Underwriters for the IPO have been granted a 30-day option to purchase up to an additional 3 million shares at the IPO price.
Orion180, founded in 2018, has grown to become the second-largest excess and surplus (E&S) lines homeowners insurance provider in the United States, operating across 14 states with key markets in Texas, California, and Florida. The company's business model integrates insurance services with carrier operations, with its service companies contributing around 70% of combined services and underwriting revenue in the 12 months leading up to June 2026. This IPO comes amidst a rebound in the fall listing season for insurers, with other companies like Bamboo Insurance also seeking to go public.
