A Tampa-based insurance company announced Friday its plans to go public on the New York Stock Exchange, revealing financial results that show revenues nearly doubled in the past year.
Safepoint Insurance submitted its initial public offering documents, showing the company earned $516.3 million in revenue for the year ending December 31, marking a dramatic 96.9% increase from the previous year’s $262.2 million. Net profits also jumped substantially, climbing from $24.3 million in 2024 to $165.6 million last year.
The strong performance comes as Florida’s property insurance sector has benefited from legislative changes implemented in 2022 that have transformed the marketplace. These reforms have made the state more attractive to insurers after years of challenges from frequent natural disasters that drove some major national companies to reduce their Florida operations.
One key improvement has been a substantial reduction in the number of litigation claims, which has encouraged new companies to enter the Florida market.
Safepoint joins several other Florida-based insurers that have recently gone public, including American Integrity Insurance, Slide Insurance, and Exzeo Group, all of which launched public offerings in New York during 2025’s strong year for insurance company debuts.
Established in 2013, Safepoint specializes in property and casualty coverage for coastal areas including Florida and Louisiana, along with other regions across the United States. The company focuses primarily on specialty homeowners insurance and commercial coverage.
The founder-controlled business remains majority-owned by its management team. Both the company and some current shareholders plan to offer shares in the upcoming public sale.
Deutsche Bank Securities and Morgan Stanley will serve as the lead underwriters for the stock offering. When trading begins, Safepoint shares will be listed under the ticker symbol “SFPT.”
