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What smart money is saying about Neptune Insurance Holdings Inc.United States flag

NP · Technology · Software - Application · Market cap $2.51B

2 funds in our archive have pitched Neptune Insurance Holdings Inc. — most recently Baron Small Cap Fund in December 2025.

Company profile

A data-driven managing general agent for flood insurance. Sells residential and commercial flood insurance (primary & excess), and parametric earthquake insurance. Uses AI and machine learning platforms (e.g. underwriting engine "Triton", policy management "Poseidon"), distributes via agency network, and does not take balance sheet risk or handle claims themselves; rather, insurance and reinsurance carriers do.

Fund coverage · 2 theses

  • Baron Small Cap Fund
    December 2025

    Neptune Insurance Holdings Inc. is a capital-light MGA leader in private flood insurance using proprietary tech to take share from NFIP and support strong EBITDA growth.

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  • Baron Financials ETF
    December 2025

    Neptune Insurance Holdings Inc. is a capital-efficient private flood insurance MGA with scalable advantages, large TAM, and 15–20% EBITDA growth potential.

    Read the full thesis

Read every full thesis on Neptune Insurance Holdings Inc.

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