NEPTUNE INSURANCE HOLDINGS INC CLA (NP)
Financials · Insurance MGA (Managing General Agent) / InsurTech · NYSE
A data-driven insurance MGA that uses AI and machine learning to underwrite and distribute primary flood, excess flood, and earthquake insurance to homeowners and businesses nationwide.
What NEPTUNE INSURANCE HOLDINGS INC CLA does
Neptune is a managing general agent (MGA) that underwrites and distributes residential and commercial insurance products—primarily primary flood, excess flood, and parametric earthquake insurance—through a nationwide network of agencies. The company uses proprietary AI and machine learning algorithms to assess risk without human underwriters and partners with a diverse panel of capacity providers (insurance and reinsurance companies) that assume all balance sheet risk and claims responsibility. Neptune achieved 33.7% organic revenue growth and a 23.4% net income margin in 2025, generating commissions and fees while leveraging advanced data science as its core competitive moat.
Themes: ["Flood insurance / property risk","AI-driven underwriting","InsurTech / MGA","Data science / machine learning in insurance","Earthquake insurance","Private market disruption vs. NFIP"]
Fundamentals
- Price$32.32 as of 2026-07-09 close
- Market cap$4.5B as of 2026-07-10
- 1-year return-36.2% as of 2026-07-09 close
- P/E119.50 as of 2026-07-10
- Net margin-2.5% as of 2026-07-10
- Gross margin+14.9% as of 2026-07-10
- ROE-2.9% as of 2026-07-10
- Debt / equity156.95 as of 2026-07-10
- Revenue growth (YoY)+38.2% as of 2026-07-10
- Revenue CAGR (3y)+37.1% SEC XBRL
- Beta-0.09 as of 2026-07-10
Dividend: yield +5.7%; pays a dividend.
Key risks (from latest filing)
["Heavy reliance on capacity providers and reinsurers; loss of key partners or committed capacity could materially impact growth and ability to underwrite policies.","Concentrated exposure to flood and earthquake risk; a major catastrophic loss event could impair capacity provider relationships and restrict future underwriting.","Company is currently unprofitable on a consolidated basis (negative net margin -2.53%) despite historical strong margins, indicating significant revenue growth has not yet translated to profitability; reliance on continued capacity provider confidence."]
Competitors & peers
- National Flood Insurance Program (NFIP)
- Flood Insurance Agency / traditional flood insurers
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.