Florida-Based HCI’s Insurtech Raises $168M in Initial Public Offering

Insurance technology firm Exzeo Group, part of Tampa-based HCI Group, raised $168 million in its U.S. initial public offering on Tuesday, pricing its shares within its marketed range and becoming the latest insurance company to proceed with its listing plans.

The company sold 8 million shares priced at $21 apiece in the IPO, compared with its marketed range of $20 and $22, giving it a potential valuation of about $1.91 billion.

Exzeo’s parent company, HCI Group, will retain an 81.5% stake following the offering. HCI also owns Homeowners Choice Insurance, one of the larger property insurers in Florida, as well as TypTap insurance, Condo Owners Reciprocal Exchange (CORE), and other enterprises.

U.S. IPO activity has rebounded strongly after an earlier slowdown triggered by U.S. President Donald Trump’s shifting trade policies and broader market volatility.

Investor appetite for new listings has improved, but the recent government shutdown has caused short-term delays in the IPO pipeline.

Exzeo joins a string of insurance firms that have gone public this year, including and , both of which were well-received on their debut.

Exzeo was established in 2012 and provides insurance technology and operational solutions through its proprietary platform, offering software and analytics tools for property and casualty insurers and agents to streamline underwriting, claims, quoting, binding, and policy management.

The company will list on the New York Stock Exchange under the symbol “XZO.” Truist Securities, Citizens Capital Markets and William Blair were the joint bookrunning managers for the offering.

(Reporting by Prakhar Srivastava and Angela Christy in Bengaluru; Editing by Rashmi Aich)