Safepoint Holdings Inc., an underwriter of specialty homeowners and commercial insurance, filed for an initial public offering, disclosing growing profit and revenue.

The Tampa, Florida-based firm had net income of $48 million on revenue of $168 million for the first three months of the year, compared with net income of $16.6 million on revenue of $112 million in the corresponding period a year earlier, according to its filing Friday with the US Securities and Exchange Commission.