According to its filing on Friday, Ethos generated net income of $30.7 million on revenue of $183.7 million for the six months ended June 30, up from $18.7 million on $118.6 million a year earlier. The company and some existing shareholders plan to sell shares in the offering.
Ethos, founded in 2016 by Peter Colis and Lingke Wang, partners with carriers to provide life insurance digitally to U.S. families. Over time, it has expanded into new insurance and estate-planning products. In the first half of 2025, policies activated on its platform rose 70% year-on-year to 94,405.
The filing comes amid renewed investor appetite for insurance IPOs, with nearly half a dozen peers going public in New York since May. On Thursday, fellow insurtech Exzeo also filed to list in the U.S.
Ethos has attracted backing from major investors including Sequoia Capital, Accel, and Alphabet’s venture arm GV. In 2021, it raised $100 million from SoftBank at a $2.7 billion valuation.
Goldman Sachs and J.P. Morgan are the lead underwriters for the IPO, with Ethos set to trade on the Nasdaq under the ticker symbol “LIFE.”