Slide Insurance Holdings, Inc. (SLDE)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$1.4B

Net income, last twelve months

$555.8M

Earnings per share

$4.10

Operating margin

52.8%

Net margin

40.0%

Free cash flow

$1.0B

Return on equity

46.5%

Market value

$3.1B

Price to earnings

6.6x

Cash

$1.2B

Debt

$29.7M

Debt to equity

0.02

Shares outstanding

115.6M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the third quarter of 2026 results, filed 27 October 2026.

• Net income and EPS rose. Diluted EPS rose 37.3% to $1.09 from $0.79. Return on equity was 11.1%, against 12.1% in the prior-year quarter.
• Gross premiums and revenue grew. Total revenue rose 35.9% to $361.1 million, from $265.7 million in the prior-year period.
• Earned premiums tied to earlier policies. Net premiums earned rose 37.1% to $333.3 million from $243.1 million, which the company linked to earlier growth in voluntary homeowners and Citizens acquired policies.
• Three sources of premium growth. Gross premium growth came from voluntary new business, renewals of acquired Citizens policies, and new state launches.
• California and homeowners expansion. Management cited progress writing residential E&S policies in California and expanding homeowners solutions in South Carolina and Rhode Island.
• Texas residential writing began. Residential writing began in Texas in October 2026, which management described as expanding the geographic footprint.
• Florida growth limited to return threshold. Florida growth is described as selective, limited to business that meets the company's return threshold.
• Combined ratio rose to 59.3%. The company attributed the increase mainly to catastrophe losses in the quarter, which it described as benign in the prior-year period.
• Loss ratio rose to 30.4%. Losses and loss adjustment expenses, net, were $101.3 million, against $33.2 million a year earlier.
• Florida convective storm losses. Catastrophe losses in the quarter were $34.2 million, from convective storms in Florida.
• Favorable prior-year reserve development. Development on prior period reserves reduced losses and loss adjustment expenses incurred by $18.0 million in the quarter.
• Accident year loss ratio improved. Accident year loss ratio, a non-GAAP measure, was 25.5% against 27.5%, excluding catastrophes and prior-period development.
• Acquisition costs rose with growth. Policy acquisition and other underwriting expenses rose to $46.2 million; the expense ratio was 28.9% against 34.8%.
• G&A rose on staffing and technology. General and administrative expenses rose to $48.8 million, which management linked mainly to staffing and technology for growth initiatives.

Company events

The newest 8-K filings of 13 held.

Every filing

The newest filings with the SEC of 50 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

243 funds held it at 30 Jun 2026: 132 added and 52 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Berkshire Hathaway Inc. (BRK.B): revenue $384.7B, market value $1.17T
• Chubb Ltd. (CB): revenue $61.8B, market value $136.0B
• Progressive Corp. (PGR): revenue $91.1B, market value $131.2B
• Travelers Companies, Inc. (TRV): revenue $48.9B, market value $80.7B
• Allstate Corp. (ALL): revenue $70.1B, market value $63.6B
• American International Group, Inc. (AIG): revenue $26.6B, market value $41.9B
• Arch Capital Group Ltd. (ACGL): revenue $19.2B, market value $35.0B
• Hartford Insurance Group, Inc. (HIG): revenue $29.0B, market value $34.8B
• Everest Group, Ltd. (EG): revenue $16.8B, market value $28.8B
• Cincinnati Financial Corp. (CINF): revenue $13.3B, market value $27.5B

What the company does

Slide Insurance Holdings is a property and casualty insurer launched in 2021. It writes single family, condominium and commercial residential policies in coastal states along the Atlantic seaboard, mainly through its subsidiary Slide Insurance Company ("SIC"). The company describes itself as a technology enabled coastal specialty insurer. At 31 December 2025 it had approximately 493,532 policies in force and 504 full-time employees. It reports one segment and says it does not depend on any one product or product line.

How the business is organised

Slide Insurance Holdings is a Delaware holding company. Its insurance subsidiaries are SIC, domiciled in Florida, and Slide Specialty Insurance Company ("Slide Specialty"), acquired in February 2025 and domiciled in Rhode Island. SIC writes insurance on an admitted basis only in Florida and South Carolina, and Slide Specialty is not actively writing insurance in any state. A wholly owned subsidiary, Slide Reinsurance Holdings, LLC, owns 100% of a protected cell of White Rock Insurance (SAC) LTD. The company says it controls every step of its value chain, from technology and underwriting to claims and reinsurance.

How it gets policies

Slide takes in policies in three ways: block acquisitions, renewals, and new business sold through independent agents and a direct-to-consumer channel. Citizens Property Insurance Corporation is Florida's state-owned insurer of last resort, and Slide has assumed policies from it in 23 separate transactions between August 2023 and December 2025. In 2025 it assumed 191,850 policies. Each transaction needs prior approval from the Florida Office of Insurance Regulation (FLOIR). If Slide's renewal premium is within 20% of the Citizens renewal premium, the policyholder cannot opt out. Assumed policies are rewritten on Slide's rates and forms within a year. Under consent orders, Slide must offer to renew each assumed policy for a minimum of three years if it meets Slide's underwriting guidelines.

It also holds renewal rights to Florida homeowners policies from Truck Insurance Exchange, a Farmers subsidiary. Agents use Violet, Slide's proprietary underwriting system, to bind a policy within minutes. The direct channel relies on low-cost routes such as mortgage bankers and building trade organizations.

How it selects risks and handles claims

Underwriting runs on the Duck Creek policy management system plus Slide's own tools. They check replacement cost and loss history before binding and estimate reinsurance cost at the point of sale. The application captures distance to the coast, construction materials, wind mitigation features, and the age of the home and roof. For each new single-family risk, staff review aerial imagery with AI filters. Slide does not assume Citizens policies with more than two non-hurricane losses. It models risk with Verisk Touchstone and Moody's RMS.

It uses outside adjusters only for field adjusting, inspections and high-volume catastrophe events, and it keeps control of reserving and payment authority. The claims department is led by a Chief Claims Officer with over 30 years of claims experience. Slide also keeps a preferred vendor network for tarping, water mitigation and tree removal.

Reinsurance and risk limits

Premiums paid to reinsurers are the company's single largest cost. All reinsurance is excess of loss and covers all perils. The program combines private reinsurers, the Florida Hurricane Catastrophe Fund (FHCF), which is mandatory for Florida domestic residential property insurers, and catastrophe bonds issued through Purple Re Ltd., a Bermuda special purpose insurer. Four bonds have been issued, in 2023, 2023, 2024 and 2025. In 2025 Slide used 30 private reinsurers rated "A-" or higher, along with four that fully collateralized their exposure. The company buys catastrophe cover to the 143-year return period, above the 130-year period used in Florida. It says its goal is to limit its retention from a catastrophe event to no more than 25% of annual pre-tax earnings.

Where it operates and who oversees it

Southeast Florida (Miami, Broward and Palm Beach counties) accounts for 28% of total insured value, including assumed Citizens policies. Southwest Florida accounts for 17%, West Central Florida for 11% and Central Florida for 10%.

FLOIR and the Rhode Island Department of Business Regulation oversee the insurance subsidiaries. They are subject to rate and form filing rules, solvency standards and regular examinations. Both subsidiaries carry a Demotech Financial Stability Rating of "A". They have no AM Best rating, and the company does not intend to seek one.

Competition and people

More than 350 companies are authorized to write homeowners insurance in Florida, and the filing says some competitors have greater resources than Slide. The company says it relies on its technology to pick policies it expects to be profitable after reinsurance costs. Its 504 full-time employees are not covered by collective bargaining agreements. Its investment portfolio is run by BlackRock and is held 100% in fixed income assets and cash.

*From Slide Insurance's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1886428/000119312526083277/slde-20251231.htm)*

From the company's 10-K.