Company: SLDE
Filing Date: 2025-06-09
Form Type: S-1/A
Source: 0001193125-25-137410
Chunk: 305

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-06-09
Form: S-1/A
Chunk 305
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 generally exposed to credit risk of cash deposits in excess of federally insured limits of $250. The Company mitigates its exposure to losses from these cash deposits by monitoring the financial stability of the financial institutions involved.

| 20. | Retirement Plan |

The Company’s full-time employees are eligible to participate in the Company’s 401(k) plan. Management of the Company can elect to make discretionary contributions. The Company made discretionary contributions for the benefit of the Company’s employees of $653 and $476 for the years ended December 31, 2024, and 2023, respectively.

| 21. | Guaranty Fund and Other Assessments |

SIC is subject to guaranty fund and other assessments in both Florida and in South Carolina, states in which the SIC underwrites policies. Guaranty fund assessments should be accrued when (i) an assessment has been imposed or information available prior to issuance of the statutory-basis financial statements indicates that it is probable that an assessment will be imposed; (ii) the event obligating an entity to pay an imposed or probable assessment has occurred on or before the date of the consolidated financial statements; and (iii) the amount of the assessment can be reasonably estimated at the time of the event triggering the accrual. SIC is subject to assessments by guaranty funds in the states in which it conducts business, a residual market pool, and a state catastrophe reinsurance pool. The activities of these funds and pools include collecting funds from solvent insurance companies to cover losses resulting from the insolvency or rehabilitation of other insurance companies, or deficits generated by Citizens Property Insurance Corporation, and the FHCF. SIC is allowed to recover these assessments through premiums collected from policyholders. As of December 31, 2024, and 2023, SIC had payables relating to these assessments totaling $2,148 and $2,645, respectively. The payable is included within other liabilities on the balance sheet.

| 22. | Shareholders’ Equity |

The Company is authorized to issue one class of common stock (par value of $0.01 per share) to its shareholders. The Company had 40,000,000 shares of common stock authorized at December 31, 2024 and 2023 of which 10,222,576 and 10,222,576 shares were issued and outstanding at December 31, 2024 and 2023, respectively. The Company is authorized to issue one class of preferred stock (par value of $0.