Slide Insurance Holdings, Inc.

What they do

Slide Insurance underwrites homeowners and other property insurance, primarily in Florida, with a growing presence outside the state. It leverages proprietary data analytics and underwriting processes for risk selection. The company also acquires policies through Citizens Property Insurance Corporation's depopulation program.

Revenue drivers

• Voluntary homeowners insurance — Core business; gross premiums written grew 16.7% year-over-year to $508.0 million in Q2 2026, driven by new business and renewals.
• Citizens assumed policies — Policies acquired through Citizens' depopulation program; contributed to net premiums earned growth of 47.9% in Q2 2026 and increased policy acquisition costs in 2026.
• Out-of-Florida expansion — Management cites double-digit growth outside Florida as a key contributor to top-line growth, though specific segment figures are not disclosed.

Recent performance

For Q2 2026, total revenue rose 47.9% to $386.8 million from $261.6 million a year earlier, and net income increased 92.4% to $134.9 million ($1.06 diluted EPS). Gross premiums written grew 16.7% to $508.0 million. Combined ratio improved to 57.6% from 67.4%, with loss ratio at 30.2% versus 37.4%. For full-year 2025, net income was $444.0 million on $1.16 billion revenue, up from $201.1 million on $846.8 million in 2024.

Strategy

Management emphasizes disciplined underwriting and scalable platform to drive profitable growth. They plan to grow voluntary homeowners business, both in Florida and via double-digit expansion outside the state, while selectively acquiring Citizens policies that meet return thresholds. They also return capital to shareholders through share repurchases and a newly initiated quarterly dividend.

Risks

• Concentration in Florida — Heavy reliance on Florida homeowners insurance exposes results to hurricane and other catastrophe losses.
• Citizens depopulation dependence — A significant portion of growth depends on continued participation in Citizens' depopulation program, which could change or be limited.
• Limited operating history — As a relatively young company, historical performance may not be indicative of future results, making evaluation difficult.
• Regulatory and legal risks — Insurance is heavily regulated, and changes in Florida law or adverse litigation could materially affect operations.

Outlook

Management reiterated full-year 2026 guidance for gross written premiums of $1.85 billion to $1.95 billion and net income of $455 million to $470 million. Growth is expected from sustained organic expansion, especially outside Florida, with selective Florida opportunities. The company also announced an initial quarterly dividend of $0.07 per share, payable August 28, 2026.