Slide Insurance (SLDE) Registration Filing summary

Company overview and business model

• Technology-enabled coastal specialty insurer focused on single family, condominium, and commercial residential policies in coastal states, primarily Florida and South Carolina.

• Utilizes proprietary data and AI-driven underwriting to target underserved markets with high demand and limited capacity.

• Grows through both inorganic block acquisitions (notably Citizens take-outs) and organic channels via independent agents and direct-to-consumer sales.

• Controls the full insurance value chain, including technology, underwriting, claims, and risk management.

• Emphasizes disciplined underwriting, robust reinsurance, and a strong balance sheet to support rapid, profitable scaling.

Financial performance and metrics

• Shareholders' equity grew from $102M (2021) to $433M (2024), a 62% CAGR.

• Gross premiums written increased from $0 (2021) to $1.33B (2024); net income rose from $87M (2023) to $201M (2024).

• Combined ratio improved from 79.0% (2023) to 72.3% (2024); return on equity was 60.0% in 2024.

• As of March 31, 2025: total assets $1.9B, shareholders' equity $532M, tangible equity $524M, and return on equity 19.2%.

• For Q1 2025: gross premiums written $278M, net income $93M, combined ratio 58.9%.

Use of proceeds and capital allocation

• Net proceeds of ~$236.5M (at $16.00/share IPO price) to underwrite additional policies, fund business growth, and for general corporate purposes.

• No proceeds from selling stockholders' shares; company intends to retain future earnings for growth, with no plans for dividends.