On September 26 2025, HCI Group, Inc. announced that its majority‑owned subsidiary, Exzeo Group, Inc., has filed a registration statement on Form S‑1 with the U.S. Securities and Exchange Commission in connection with a proposed initial public offering of Exzeo’s common stock.
The filing, which has not yet become effective, does not disclose the number of shares to be offered or the price range for the offering. Truist Securities, Citizens Capital Markets and William Blair are acting as joint book‑running managers, with Fifth Third Securities serving as a co‑manager.
The registration marks a significant step toward the planned spin‑off of Exzeo, a technology platform that manages over $1.2 billion in premiums for HCI’s insurers. The move is intended to unlock value for shareholders by allowing Exzeo to pursue growth opportunities outside the HCI holding company structure.
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