Neptune Insurance Holdings, the parent company of Neptune Flood, has filed a registration statement with the US Securities and Exchange Commission (SEC) for an initial public offering (IPO) of its Class A common stock.  

The insurer applied to list its shares on the New York Stock Exchange (NYSE) under the ticker symbol ‘NP’.  

Details regarding the number of shares to be offered and their price range remain undetermined at this stage.  

Neptune Flood, a subsidiary of Neptune Insurance Holdings, operates as a managing general agent providing a variety of insurance products, including flood insurance, via a broad network of agencies across the nation since its establishment in 2018. 

The offering’s completion is contingent on prevailing market conditions, and there is no guarantee of its finalisation or the specifics of the terms, the company said.  

A consortium of financial institutions led by Morgan Stanley as the lead left bookrunner will manage the proposed offering.  

J.P. Morgan and BofA Securities are also participating as active bookrunners, with support from a group of joint bookrunners including BMO Capital Markets and Goldman Sachs & Co.  

Dowling & Partners Securities has been appointed as co-manager for the offering. 

For the year ending 31 December 2024, the company saw a 40.6% increase in organic revenue, a net income margin of 29% and an adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) margin of 60.4%.  

In the first half of 2025, the company continued its positive trajectory with 32.3% growth in organic revenue, a net income margin of 30.2% and an adjusted EBITDA margin of 59.3%.