Flood Insurer Neptune Shares Climb 24% After $368 Million US IPO

Neptune Insurance signage during the company's IPO at the New York Stock Exchange on Oct. 1. — Neptune Insurance signage during the company's IPO at the New York Stock Exchange on Oct. 1.
Photographer: Michael Nagle/Bloomberg

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By Georgie McKay and Anthony Hughes

October 1, 2025 at 4:04 PM UTC

Updated on

October 1, 2025 at 8:06 PM UTC

Neptune Insurance Holdings Inc. shares jumped 24% after the flood insurance company’s shareholders raised $368.4 million in a US initial public offering.

Shares of the St. Petersburg, Florida-based firm closed at $24.80 each on Wednesday, versus an IPO price of $20 apiece. The offering of 18.4 million shares by backers including co-founder Jim Albert, Bregal Sagemount and FTV Capital was marketed in a range of $18 to $20 each.