# Insurer Safepoint said on Tuesday it was targeting a valuation of ‌up to $1.16 billion in its U.S. initial public offering.

*business · news · 2026-05-26 · Reuters*

## Key points

- Safepoint is targeting a valuation of up to $1.16 billion in its U.S. IPO.
- Safepoint and its backers aim to raise up to $283.3 million by offering 16.7 million shares.
- Florida insurance reforms in 2022 led to a significant drop in litigation claim frequency.
- The post-reform Florida market is now attracting new property insurance entrants like Safepoint.

May 26 (Reuters) - Insurer Safepoint said on Tuesday it ​was targeting a valuation of ‌up to $1.16 billion in its U.S. initial public offering, riding a wave of ​post-reform Florida insurance growth. The Tampa, ​Florida-based company and some of its ⁠backers are seeking to raise ​up to $283.3 million by offering 16.7 ​million shares priced between $15 and $17 apiece. Sign up here. Florida, which has been a difficult region for U.S. ​property insurers due to high ​litigation and exposure to natural disasters, has ‌seen ⁠a more receptive environment following a series of reforms in 2022. The reforms have resulted in a significant ​drop in ​litigation ⁠claim frequency, drawing new entrants to the market. Founded in ​2013, Safepoint is a property ​and ⁠casualty insurer focused on delivering insurance in coastal markets such as ⁠Florida ​and Louisiana. Reporting by Pragyan ​Kalita and Arasu Kannagi Basil in Bengaluru; Editing ​by Anil D'Silva and Shinjini Ganguli

**Countries:** United States

[Read the full story on Reuters](https://www.reuters.com/legal/transactional/florida-insurer-safepoint-eyes-116-billion-valuation-us-ipo-2026-05-26/)

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