UPDATE 1 — Orion180 Insurance valued at $1.14 billion as shares fall in debut

(Adds share moves in paragraph 2, background details throughout) Sept 18 (Reuters) — Orion180 Insurance was valued at $1.14 billion after its shares fell in its Nasdaq debut on Friday. Shares opened at $11.50 after the Melbourne, Florida-based company priced its IPO at $12 per share, below its marketed range of $15 to $17, raising $240 million. The debut comes amid a difficult start to the fall IPO season, as concerns over AI spending, the Federal Reserve’s recent interest-rate hike and rising bond yields weigh on investor appetite for new listings. Orion180's listing is expected to test investor appetite for the sector, potentially setting the tone for other insurers considering public listings later this year as investors seek greater exposure to insurance stocks. CVC-backed Bamboo Insurance Services is also slated to go public next week and is targeting a $3.24 billion valuation. Founded in 2018, Orion180 claims to be the second-largest excess and surplus lines homeowners insurer and also provides flood insurance and other products distributed through more than 14,000 independent agents. (Reporting by Atharva Singh and Pragyan Kalita in Bengaluru; Editing by Sahal Muhammed and V