Orion180 CEO after IPO: ‘We don't have any intention of slowing down’

By Michael Loney Sept 21 (The Insurer) — Orion180 Insurance Group is confident it can maintain growth as a public company despite softening homeowners pricing, president and CEO Ken Gregg told The Insurer. In an interview with The Insurer on Friday, shortly after Orion180’s shares started trading on the Nasdaq Global Select Market under the ticker symbol of “OIG”, Gregg described the IPO as “a milestone for us” that “positions us differently in the marketplace.” “It brings us the presence and recognition with all of our partners and consumers and stakeholders along the way. We built ourselves to be at this point, and it was the right time,” he said. Technology-focused Orion180 provides excess and surplus lines and admitted homeowners' insurance, private flood insurance and a range of ancillary products through a network of more than 14,000 active independent agents. Melbourne, Florida-based Orion180 raised $240 million in its offering of 20 million shares priced at $12 a piece. This was below its targeted range of $15 to $17 a share for the IPO. Orion180’s shares opened at $11.50 on Friday, which 14 billion valuation. The share price recovered.