Core Viewpoint - Exzeo Group, a US-based insurance technology company, is planning an IPO aiming for a valuation of up to $2 billion, seeking to raise approximately $176 million by issuing eight million shares priced between $20 and $22 each [1][2]. Group 1: IPO Details - The company will offer all primary shares, with HCI Group maintaining majority ownership post-listing [3]. - Underwriters have been granted a 30-day option to purchase an additional 1.2 million shares at the IPO price, along with applicable discounts and commissions [3]. - Exzeo intends to list its common stock on the New York Stock Exchange under the ticker symbol 'XZO' [3]. Group 2: Regulatory Context - The SEC has recently relaxed rules to facilitate IPOs during the ongoing government shutdown, although legal advisers suggest this change may not lead to a significant increase in offerings [2]. - The registration statement for the IPO is expected to automatically become effective on November 4, 2025, unless further SEC action occurs [4]. Group 3: Company Background - HCI Group, the parent company of Exzeo, consists of two distinct units: one includes multiple insurance companies and a captive reinsurance company, while the second unit, Exzeo Group, focuses on advanced underwriting algorithms and data analytics for property and casualty insurers [5]. - Exzeo was previously known as TypTap Insurance and had submitted a draft registration for a US IPO in 2021 but abandoned the plan in 2023 [5].
Insurtech company Exzeo targets $2bn valuation in US IPO