Nov 4 (Reuters) - Insurance technology firm Exzeo 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 Tampa, Florida-based 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.
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 Accelerant and Neptune Insurance,
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 to streamline underwriting, claims, 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.