Core Viewpoint - Neptune Insurance, a provider of excess and surplus (E&S) flood insurance underwriting and distribution services, successfully launched on the U.S. stock market with a notable increase in stock price following its IPO [1] Company Summary - Neptune Insurance's stock opened higher, rising over 13% to $22.83, after an IPO price of $20 [1] - The company operates as a data-driven managing general agent (MGA), focusing on flood risk mitigation solutions for homeowners and businesses [1] - Neptune Insurance distributes various residential and commercial insurance products through a nationwide network of agents, including primary flood insurance, excess flood insurance, and parametric earthquake insurance [1]

Core Viewpoint - Neptune Insurance, a provider of excess and non-standard flood insurance underwriting and distribution services, successfully launched on the US stock market with its stock price rising over 13% to $22.83 after an IPO price of $20 [1] Company Overview - Neptune Insurance operates as a data-driven managing general agent (MGA) focused on providing flood risk mitigation solutions for homeowners and businesses [1] - The company distributes various residential and commercial insurance products through a nationwide network of agents, including primary flood insurance, excess flood insurance, and parametric earthquake insurance [1]

Group 1 - Neptune Insurance Holdings plans to raise $350 million through an IPO by offering 18.4 million shares priced between $18 and $20, with all shares being secondary market offerings [1][2] - The company has secured cornerstone investors T. Rowe Price and Alliance Bernstein, who have committed to purchase $75 million worth of shares, representing 21% of the total offering [1] - If priced at the midpoint of the offering range, Neptune Insurance's fully diluted market capitalization would reach $2.8 billion [1] Group 2 - Neptune Insurance operates as a data-driven managing general agent (MGA) focused on providing flood risk mitigation solutions for homeowners and businesses [1][2] - The company does not assume any insurance risk on its balance sheet and does not handle claims processing for the policies it sells [2] - Neptune Insurance was founded in 2017 and reported revenue of $137 million for the 12 months ending June 30, 2025 [2]

Core Viewpoint - Neptune Insurance Holdings has officially filed for an IPO with the SEC, aiming to raise up to $100 million through the issuance of new shares [1][2] Group 1: Company Overview - Neptune Insurance Holdings, based in St. Petersburg, Florida, was established in 2017 and operates as a data-driven insurance general agent [1] - The company utilizes proprietary underwriting and policy management platforms, Triton and Poseidon, to underwrite and manage policies on behalf of insurance and reinsurance companies [1] - Neptune does not assume balance sheet insurance risks or handle claims for the policies sold, instead relying on a nationwide agency network to distribute various insurance products, including primary flood insurance, excess flood insurance, and parametric earthquake insurance [1] Group 2: Financial Information - For the 12 months ending June 30, 2025, Neptune reported revenue of $137 million [1] Group 3: IPO Details - The IPO marks the official start of the listing process, following a confidential filing made on July 2, 2025 [2] - Neptune plans to list on the New York Stock Exchange under the ticker symbol NP, with a large syndicate of underwriters including Morgan Stanley, JPMorgan, Bank of America Securities, and Goldman Sachs among others [2]