Exzeo Group, an insurtech platform spun out of HCI Group, has set terms for a $168 million IPO, offering 8 million shares at $20–$22 per share, giving it an implied $1.9 billion valuation. Founded in 2012, Exzeo delivers property and casualty underwriting, analytics, and management software through its nine-app Exzeo Platform, supporting over $1.2 billion in in-force premiums across 13 states. The company reported $182 million in revenue over the past 12 months and will list on the NYSE under the ticker XZO, with Truist Securities, Citizens JMP, and William Blair as joint bookrunners; pricing is expected the week of November 3, 2025.

Insurtech Carve-out Exzeo Group Sets Terms for $168 Million IPO