The specialty insurer, focused on coastal markets including Florida and Louisiana, did not disclose the offering's size or price; Deutsche Bank Securities and Morgan Stanley are among underwriters.
Safepoint reported 2025 net income of $157.2 million, up from $41.3 million, while revenue jumped 97% to $516.3 million.
A later filing said the Tampa-based company earned $48 million on $168 million revenue in the first quarter, versus $16.6 million and $112 million a year earlier.
Is Safepoint’s record profit a sign of market genius or a high-stakes gamble against the next big hurricane?
Will new AI technology be enough to protect Safepoint from the rising tide of catastrophic losses?