Jan 28 (Reuters) – Ethos Applied sciences and a few of its shareholders raised about $200 million in a U.S. preliminary public providing, the insurance coverage platform stated on Wednesday.
The corporate and the promoting shareholders offered 10.5 million shares at $19 apiece, the midpoint of its focused vary of $18 to $20 a share.
The IPO valued Ethos at about $1.2 billion, based mostly on the variety of shares excellent talked about in its prospectus.
Ethos, backed by enterprise capital companies Accel and Sequoia, stated its platform and underwriting engine remodel the shopping for, promoting, and danger administration of life insurance coverage, serving to clients safe protection in minutes quite than months.
Listings are anticipated to choose up tempo in 2026, following a multi-year slowdown and a partial restoration final yr, as markets commerce at report ranges, investor danger urge for food improves and enterprise capital companies search exits.
The insurance coverage sector has additionally drawn regular demand from IPO buyers, with listings hitting a 20-year excessive on Wall Avenue in 2025, pushed by robust income development and the business’s “tariff-proof” nature.
Investor urge for food has risen for the life insurance coverage sector, drawn by recurring income, resilient client demand and pricing energy — even throughout financial downturns.
Ethos’ income surged roughly 47% to $277.5 million within the 9 months ended September 30, in contrast with $188.4 million within the year-earlier interval.
The agency stated it has activated greater than 500,000 insurance policies since its inception and, as of September 30, it had over 10,000 energetic promoting brokers and several other energetic carriers on its platform.
The corporate’s shares will begin buying and selling on the Nasdaq below the ticker image “LIFE” on Thursday.
Goldman Sachs and J.P. Morgan are the lead underwriters of the IPO.
(Reporting by Bipasha Dey and Manya Saini in Bengaluru; Modifying by Subhranshu Sahu, Alan Barona and Rashmi Aich)
