Finance
Insurance tech firm Exzeo eyes $2 billion valuation in US IPO
Published by Global Banking & Finance Review®
Posted on October 16, 2025
2 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on October 16, 2025
2 min readLast updated: January 21, 2026
Exzeo Group targets a $2 billion valuation in its US IPO, offering 8 million shares. The company shows strong financial growth, aiming to list on NYSE under 'XZO'.
(Reuters) -Insurance technology firm Exzeo Group said on Thursday it was targeting a valuation of up to $2 billion in its U.S. initial public offering, becoming the latest company to proceed with its listing plans despite the ongoing government shutdown.
The Tampa, Florida-based company is aiming to raise as much as $176 million in its IPO by offering 8 million shares priced between $20 and $22 apiece.
With no resolution in sight for the federal government shutdown, corporate issuers are increasingly turning to the rarely used 20-day rule to pursue IPOs.
Travel tech firm Navan and electric aircraft maker Beta Technologies have also launched their IPO roadshows in the past week.
Earlier this year, Exzeo parent HCI Group had announced its plans to pursue a spin-off of the insurance tech firm, before pivoting to an IPO.
Exzeo's current structure is "not ideal for either valuation purposes or competitive reasons", HCI Chief Financial Officer Mark Harmsworth had said in August.
Previously known as TypTap Insurance, Exzeo provides technology to streamline and automate the interaction between insurance carriers and their policyholders.
TypTap Insurance had been pursuing an IPO since 2021, but shelved the plan in 2023.
Net income attributable to Exzeo stockholders was $39.6 million and revenue was $108.5 million during the six months ended June 30. That compares with a net income of $18.2 million and revenue of $60.3 million a year earlier.
Exzeo aims to list on the New York Stock Exchange under the symbol "XZO". Truist Securities, Citizens Capital Markets and William Blair are the joint bookrunning managers for the offering.
HCI will continue to own 81.5% shares of Exzeo after the IPO.
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shilpi Majumdar)
An IPO, or Initial Public Offering, is the process through which a private company offers its shares to the public for the first time, allowing it to raise capital from public investors.
Valuation is the process of determining the current worth of an asset or a company, often used to assess investment opportunities or to set prices for shares during an IPO.
A spin-off is a corporate action where a company creates a new independent company by selling or distributing new shares, often to unlock value or focus on core operations.
Technology in finance, often referred to as fintech, encompasses innovations that enhance financial services, including online banking, mobile payments, and automated investment platforms.
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