Florida, Louisiana-Focused Insurer Safepoint Files for IPO

Safepoint Holdings Inc., an underwriter of specialty homeowners and commercial insurance, filed for an initial public offering, disclosing growing profit and revenue.

The Tampa, Florida-based firm had net income of $48 million on revenue of $168 million for the first three months of the year, compared with net income of $16.6 million on revenue of $112 million in the corresponding period a year earlier, according to its filing Friday with the US Securities and Exchange Commission.