Exzeo Group, a property and casualty underwriting and analytics platform being carved out of HCI Group, announced terms for its IPO on Thursday.
The Tampa, FL-based company plans to raise $168 million by offering 8 million shares at a price range of $20 to $22. At the midpoint of the proposed range, Exzeo Group would command a market cap of $1.9 billion.
Exzeo provides insurance technology solutions for property and casualty carriers and their agents through its proprietary Exzeo Platform, which currently includes nine software and data analytics applications that support functions such as quoting and underwriting, policy administration, claims management, data and analytics, reporting, and financial management. Exzeo currently serves customers in 13 states, though it holds insurance agency or managing general agent licenses in 29 states, and its solutions support the management of over $1.2 billion of in-force premiums.
Because of the ongoing US government shutdown, Exzeo is not relying on the SEC to declare its registration statement effective, and instead its registration will automatically become effective after 20 days, pursuant to Section 8(a) of the Securities Act.
Exzeo Group was founded in 2012 and booked $182 million in revenue for the 12 months ended June 30, 2025. It plans to list on the NYSE under the symbol XZO. Truist Securities, Citizens JMP, and William Blair are the joint bookrunners on the deal. It is expected to price the week of November 3, 2025.
