Insurance firm postpones subsidiary’s IPO

TypTap Insurance Group leader says market pricing ‘does not accurately reflect’ Tampa-based firm’s value.

  • By Business Observer Staff
  • | 12:37 p.m. January 13, 2022
  • | 0 Free Articles Remaining!
File. HCI Chairman and CEO Paresh Patel, left, and President Kevin Mitchell.
File. HCI Chairman and CEO Paresh Patel, left, and President Kevin Mitchell.
  • Tampa Bay-Lakeland
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TAMPA — Insurtech company TypTap Insurance Group Inc., a subsidiary of Tampa-based HCI Group, has delayed its initial public offering.

TypTap had filed a Form S-1 with the U.S. Securities and Exchange Commission but says in a press release that the registration of securities has not become effective, meaning shares cannot be traded.

 

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