Florida-based insurer Safepoint seeks to raise capital with a $1.03bn in-force premium book as net income surges to $165.6m in 2025.
Florida property and casualty insurer Safepoint has submitted documents for an initial public offering on the New York Stock Exchange, targeting the ticker SFPT. The Tampa-based company, founded in 2013, specializes in coastal risk coverage, including homeowners’ and commercial policies in Florida and Louisiana.
Safepoint reported net income of $165.6m for 2025, a $141.3m increase from $24.3m in 2024. The company attributed the growth to higher net earned premiums, though rising acquisition costs and administrative expenses partly offset gains. In-force premiums totaled $1.03bn as of December 31, 2025, with 11% originally placed with Safepoint Insurance.
Deutsche Bank Securities and Morgan Stanley are joint bookrunners for the offering. The move follows recent IPOs by Florida insurers Slide Insurance and Exzeo Group in 2025.