Florida insurer Safepoint files papers to go public

Florida insurer Safepoint has lodged documents for an initial public offering (IPO) in the US.

The company intends to trade on the New York Stock Exchange (NYSE) under the ticker 'SFPT'.

Based in Tampa and established in 2013, Safepoint writes property and casualty cover with an emphasis on coastal areas including Florida and Louisiana, alongside other parts of the US.

The business is led by its founder, is mainly owned by management, and concentrates on specialty homeowners’ and commercial policies.

Safepoint's net income stood at $165.6m for the year ending 31 December 2025, up from the $24.3m reported in 2024.

The company said the increase of $141.3m was mainly due to higher net earned premiums, partly offset by greater policy acquisition costs and general and administrative expenses.

In its filing, Safepoint said in-force premium totalled $1.03bn as of 31 December 2025.

It added that most of that amount was originally placed with the Reciprocal Exchanges, while 11% was originally placed with Safepoint Insurance.

Deutsche Bank Securities and Morgan Stanley are the joint bookrunners on the deal.

Willkie Farr & Gallagher is advising on the validity of the common shares offered in the prospectus, while Latham & Watkins is acting for the underwriters.

In 2025, Florida-based insurers Slide Insurance and Exzeo Group also went public.

"Florida insurer Safepoint files papers to go public" was originally created and published by Life Insurance International, a GlobalData owned brand.

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