Safepoint Holdings Inc., a Florida‑based insurer, filed an IPO registration with the SEC on Friday, revealing a jump in profit and revenue. The company posted $48 million in net income on $168 million in revenue for the first quarter, up from $16.6 million and $112 million a year earlier.

Founded in 2013, Safepoint targets coastal markets such as Florida and Louisiana, owning Safepoint Insurance Co. and three Bermuda‑based reinsurance captives. The filing shows the firm has taken over policies from retreating competitors and state‑sponsored depopulation programs, boosting gross written premiums to $927.2 million in 2025 from $188 million in 2021.

With U.S. IPOs raising $18.9 billion this year, Safepoint’s debut adds to a rebounding market that saw $10.4 billion in the same period last year. Deutsche Bank AG and Morgan Stanley will lead the offering, which expects shares to trade on the New York Stock Exchange under the symbol SFPT.

By capturing market share from competitors pulling back from Gulf Coast regions, Safepoint positions itself as a key player in a high‑risk, high‑reward niche. Investors will watch the IPO to assess whether the company’s growth trajectory justifies the premium priced into its shares once they hit the NYSE floor.