Jan 28 (Reuters) – Ethos Technologies and some of its shareholders raised about $200 million in a U.S. initial public offering, the insurance platform said on Wednesday.

The company and the selling shareholders sold 10.5 million shares at $19 each, the midpoint of their target range of $18 to $20 per share.

The IPO valued Ethos at about $1.2 billion, based on the number of outstanding shares listed in its prospectus.

Ethos, backed by venture capital firms Accel and Sequoia, said its platform and underwriting engine transform the buying, selling and risk management of life insurance, helping customers secure coverage in minutes rather than months.

Stocks are expected to pick up the pace in 2026, after a multi-year slowdown and a partial recovery last year, as markets trade at record levels, investors’ risk appetite improves and venture capital firms seek exits.

The insurance sector has also seen steady demand from IPO investors, with valuations hitting a 20-year high on Wall Street in 2025, driven by strong revenue growth and the “fee-proof” nature of the industry.

Investor appetite for the life insurance sector has increased, attracted by recurring income, resilient consumer demand and pricing power, even during economic downturns.

Ethos’ revenue rose about 47% to $277.5 million in the nine months ended Sept. 30, compared with $188.4 million in the year-ago period.

The company said it has activated more than 500,000 policies since its inception, and as of September 30, had more than 10,000 active sales agents and several active operators on its platform.

The company’s shares will begin trading on the Nasdaq under the symbol “LIFE” on Thursday.

Goldman Sachs and JP Morgan are the main underwriters of the IPO.

(Reporting by Bipasha Dey and Manya Saini in Bangalore; Editing by Subhranshu Sahu, Alan Barona and Rashmi Aich)