Slide files for IPO
Slide Insurance filed for an IPO and plans to list on the Nasdaq under the ticker SLDE. The Tampa-based coastal property insurer, founded in 2021, has grown through Citizens takeouts, private carrier exits, and a tech-driven underwriting model.
“Launched in 2021, we are a technology enabled, fast-growing, coastal specialty insurer. We focus on profitable underwriting of single family and condominium policies in the property and casualty (“P&C”) industry in coastal states along the Atlantic seaboard through our insurance subsidiary, Slide Insurance Company (“SIC”). We utilize our differentiated technology and data-driven approach to focus on market opportunities that are underserved by other insurance companies. We acquire policies both from inorganic block acquisitions and subsequent renewals, as well as new business sales through a combination of independent agents and our direct-to-consumer (“DTC”) channel, through which we sell our insurance products directly to end consumers, without the use of retailers, brokers, agents or other intermediaries. We do not depend on any one key product or product line within the coastal specialty homeowners insurance market. We control all aspects of our value chain, including technology, underwriting, actuarial, distribution, claims and risk management which allows us to maximize profitability while maintaining disciplined underwriting standards.”
“Our technology is built to estimate future costs of policies and compare it back to our base rates to better understand profitability in real time on an individual risk basis and to assess large and/or bulk transactions. This technology permits us to only select policies that we believe to be profitable based on future reinsurance and all other perils (“AOP”) costs.”
The company posted $1.33B in gross written premium in 2024, up from $875M in 2023, with a combined ratio of 72.3% and net income of $201M. For Q1 2025, Slide reported $278M in gross written premium and $93M in net income, with a combined ratio of 58.9%.
Slide’s business is nearly all in Florida.
“We write several homeowners’, condominium owners’, and commercial residential products in coastal specialty markets in Florida and South Carolina. As of December 31, 2024, 99.5% of our policies are concentrated in Florida, while 0.5% of our policies are concentrated in South Carolina. Additionally, 74.4% of our policies are concentrated on the coasts of Florida and South Carolina, determined by the number of policies located in counties that border the Atlantic Ocean.”
Its acquisition of Pawtucket Insurance Company earlier this year will support expansion into surplus lines under a new entity: Slide Specialty Insurance Company.
The company credits its proprietary $6T total insured value dataset and AI-enhanced underwriting tech for its ability to price risk profitably in catastrophe-prone regions.
It plans to use IPO proceeds to underwrite more policies and fund further growth.
Slide also disclosed that it is winding down its Indian subsidiary, SIH Technologies LLP, which was originally established to employ a now-former executive based in India.
More recently, American Integrity went public. The Florida-based insurer closed its initial public offering on May 9, 2025, selling 6.25 million shares at $16 each, with an additional 625,000 shares sold by existing shareholders. Shares began trading on the NYSE under the ticker AII on May 8. American Integrity serves over 385,000 policyholders across Florida, Georgia, and South Carolina.
Bottom Line: As national carriers pull back—dropping from 62% (1999) to 28% (2022) of Florida’s premium market—Slide is positioning itself to capitalize on the resulting demand in underserved coastal markets.
