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TypTap Insurance Group, a subsidiary of HCI Group (NYSE:HCI), has withdrawn its filing for a $100M initial public offering.
The homeowners insurance provider filed for the withdrawal on Friday. TypTap first filed for the IPO in November 2021 indicating it was seeking to raise $100M, a number that was likely a placeholder and subject to change.
TypTap is a majority owned subsidiary of HCI Group, a Florida-based company focused on insurance, IT services and commercial real estate investment.
HCI released its Q4 financial results on March 9, reporting a profit of $2.7M.
