By Stephen Nakrose
TypTap Insurance Group Inc. filed an IPO with the US Securities and Exchange Commission on Monday.
TypTap said it is a “technology-driven insurance company that uses extensive data and AI-powered analytics to better select and evaluate homeowners’ insurance risk.” The company also said its business started in 2016 as a subsidiary of HCI Group Inc.
The company counts HCI Group Inc. and CB Snowbird Holdings LP among its major shareholders.
For the three months ended September 30, 2021, the company had gross written premium of $ 55.9 million and revenue of $ 32.2 million. For the same period last year, the company had gross written premium of $ 27.3 million and revenue of $ 10.2 million.
The company did not provide an expected size for its IPO, nor an expected price range.
The company also announced that it will apply to be listed on the New York Stock Exchange under the symbol TYTP.
JMP Securities, Truist Securities and Oppenheimer & Co. are listed as bookrunners of the offer.
Dowling and Partners Securities LLC, Fifth Third Securities, and TigerRisk Capital Markets & Advisory are listed as co-managers for the offering.
Write to Stephen Nakrose at [email protected]