Flood Insurance Firm Neptune Files for US IPO as Revenue Grows

Neptune Insurance Holdings Inc. filed for an initial public offering in the US, showing growing revenue for the flood insurance company.

The St. Petersburg, Florida-based company posted net income of $35 million on $119 million in revenue last year, and has generated $22 million of net income on $71 million of revenue in the first six months of 2025, according to a Wednesday filing with the US Securities and Exchange Commission.

The company, which was founded in 2018, uses an AI-driven underwriting agent known as Triton to assess risks and generate a quote for customers within minutes, according to its ...