Orion180 has filed an S-1 registration statement with the US Securities and Exchange Commission for a proposed Nasdaq listing under the ticker “OIG”, giving investors a closer look at the technology-focused insurer’s underwriting model, reinsurance strategy and plans for expansion.
The company, which provides homeowners and private flood insurance through a nationwide network of independent agents, has proposed the ticker “OIG”. Proceeds from the offering would be used for general corporate purposes and future growth, with some potentially directed towards repaying part of its new credit facility.
RBC Capital Markets, UBS Investment Bank, Raymond James, Goldman Sachs, Deutsche Bank Securities, Citizens JMP Securities and Texas Capital Securities are acting as underwriters for the offering.
Orion180 operates through two segments, separating fee-generating services from its underwriting activities. Its services business provides managing general agent services, claims handling and technology, while its underwriting operation works through in-house fronting carriers that retain a portion of the risk and transfer most of it to a panel of reinsurers.
The company works with around 50 excess-of-loss reinsurers and 11 quota share partners, all rated A- or higher or fully collateralised, according to the filing.
Technology sits at the centre of Orion180’s underwriting model through its proprietary MY180 platform. The system supports agent onboarding, automated underwriting and pricing, policy administration and claims processing, using third-party data, geospatial analytics and machine learning to assess exposures and update products.
Its portfolio includes admitted and excess-and-surplus (E&S) homeowners insurance, the configurable E&S FLEX product, standalone and embedded private flood insurance, as well as additional products including an automatic water shut-off device and an AI-powered self-inspection tool.
Orion180 said it is the second-largest E&S homeowners provider in the US by direct written premiums and operates across 14 states. The company expanded into Texas, California and Florida in 2025 before entering Colorado in 2026.
Since launching, Orion180 has sold more than 670,000 policies. It reported $444m in managed premiums during 2025, increasing to $601m on a trailing 12-month basis through June 2026. The company generated around 850,000 new quotes in 2025, resulting in approximately 115,000 new policies, while its policy retention rate stood at 84.7%.
The insurer is targeting a US property insurance market it estimates was worth $513bn in 2025. Homeowners and flood insurance accounted for $192bn of that figure, while private flood premiums exceeded $1bn.
Orion180 cited an 11% compound annual growth rate in US homeowners premiums between 2020 and 2025, alongside approximately 25% growth in E&S homeowners premiums over the same period. It attributed part of the expansion in E&S to admitted insurers reducing their exposure to higher-risk markets.
The company generated $123.5m in revenue during 2025, up 38.3% year-on-year. Income before tax reached $22m, while net income stood at $16.3m.
More than 70% of new claims are handled internally, with the company reporting an average resolution time of 21 days. Orion180 also reported a customer satisfaction score of 91% for the second half of 2025.
The business was founded and is led by CEO Kenneth Gregg. The proposed board includes former EY partner Kevin Bollinger, former Humana chief information officer Samir Deshpande, former Ironshore CEO Robert V. Deutsch, former Essent Group finance chief Lawrence E. McAlee and former Sirius International Insurance Group chief Kernan “Kip” Oberting.
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