Specialty Insurer Orion180 Seeks to Raise $340 Million in IPO

Orion180 Insurance Group Inc., a specialty homeowners and flood insurer, is seeking to raise as much as $340 million in an initial public offering.

The Melbourne, Florida-based company plans to market 20 million shares for $15 to $17 each, according to its filing Wednesday with the US Securities and Exchange Commission.

At the top of that range, the company would have a market value of about $1.7 billion based on the outstanding shares listed in its filing.

Orion180 had net income of $13.2 million on revenue of $80.1 million for the first six months of 2026, compared with a net loss of $3 million on revenue of $50.4 million a year earlier. The company generated $601 million of direct written premiums in the 12 months ended June 30.

The company’s founder Kenneth Gregg will control Orion180 after the IPO through his holdings of Class B shares, the filing shows.

Companies that went public on US exchanges have raised $160.6 billion this year, excluding blank-check firms and other financial vehicles, according to data compiled by Bloomberg. The weighted average performance of US IPOs is hovering around 14% since the start of the year, the data show.

Some of the sizable listings include billionaire Bill Ackman’s closed-end fund Pershing Square USA Ltd., which is down 24% since its April debut, and Quantinuum Inc., which has declined 16% since its June IPO. SpaceX, by contrast, has rallied 14% since its record June debut.

Royal Bank of Canada, UBS Group AG, Raymond James Financial Inc., Goldman Sachs Group Inc., Deutsche Bank AG, Citizens Financial Group Inc. and Texas Capital Securities are working on Orion180’s offering. The company expects its shares to trade on the Nasdaq Global Select Market under the symbol OIG.