Technology-focused specialty insurance group Orion180 has announced its financial results for the third quarter of 2026, reporting an increased net income of $11 million and a 60.4% increase in gross premiums written compared to the same period last year.
The 32% net income increase in Q3 2026 compares to the $9 million reported for the same quarter during the prior year. Gross written premiums in Q3 2026 stood at $203.8 million, up from $127.2 million in Q3 2025.
The quarter also marked a defining corporate milestone with the closing of the company’s initial public offering (IPO) on September 21, 2026, through the issuance of 20,000,000 shares Class A common stock.
Following the offering, Orion120 has 99,058,193 shares of common stock outstanding and concluded the quarter on September 30 with a solid liquidity profile, holding $166 million in cash and cash equivalent against $56 million in outstanding debt.
Operational momentum remained strong across core underwriting metrics, with new business premiums written increasing 62% to $102 million during Q3 2026, compared to $63 million in the same period last year.
Total managed premiums in-force rose $678 million as of September 30, 2026, up from $394 million a year earlier.
Net premiums earned rose to $29.9 million in Q3 2026 compared to Q3 2025’s $19.6 million. Policy retention rate was 88% in the quarter, near the 90% recorded in the prior-year period, while the company’s gross loss ratio stood at 32.8%, compared to 27.3% in Q3 2025.
Kenneth Gregg, Chief Executive Officer of Orion180, commented: “We delivered an excellent quarter across our key metrics, rapidly growing our managed premiums while significantly increasing our profitability on a year-over-year basis.
“In addition, we achieved a major milestone in our Company’s history by successfully completing our initial public offering. We believe our results reflect the strength, differentiation and scalability of the business model we have built over the past eight years.”
Adding: “We are well-positioned to produce durable growth on both our top and bottom lines, which is driven by our attractive suite of homeowners solutions – including our flagship FLEX product – as well as our proprietary end-to-end MY180 tech platform, which allows us to seamlessly combine best-in-class underwriting, claims management, and real-time analytic capabilities.
“As a result, we are able to compound our competitive advantage and continue our growth with underwriting discipline across our growing 14-state footprint. We also continue to develop our MY180 tech platform capabilities to further drive future growth. Moving forward, we are well-positioned to sustainably continue gaining market share while increasing long-term value for shareholders, leading the way as a premier provider of specialty property insurance solutions.”
