Company: SLDE
Filing Date: 2025-05-23
Form Type: S-1
Source: 0001193125-25-125836
Chunk: 126

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-05-23
Form: S-1
Chunk 126
---
3 and 2024 were $0.4 and $2.4 million,
respectively. The increase was due primarily to depreciation of capitalized costs of internal-use software projects that were put into production in 2024.

Amortization expense. Amortization expense for the years ended December 31, 2023 and 2024 were $8.2 million and
$7.9 million, respectively, representing 1.9% and 1.0%, respectively, of net premiums earned. The decrease was due primarily to sale of an intangible asset at the end of 2023.

Other operating expense. Other operating expense for the years ended December 31, 2023 and 2024 were approximately $0.2 and
$1.2 million, respectively. The increase was due primarily to estimated tax penalties and interest.

Income tax expense.Income tax expense was $30.3 million and $68.9 million for the years ended December 31, 2023 and 2024, respectively. Our effective tax rate for the year ended December 31, 2023 and 2024 was 25.7% and 25.4%, respectively.

Ratios

Loss ratio. Our loss ratio decreased from 43.8% for the year ended December 31, 2023 to 42.8% for the year ended December 31, 2024, primarily as a result of increased net premiums earned from increased policies in force offset by an
increase in catastrophe losses from hurricane weather activity.

Expense ratio. Our expense ratio decreased from 35.2% for the year
ended December 31, 2023 to 29.5% for the year ended December 31, 2024, primarily due to an increase in Citizens policies assumed without acquisition costs.

Combined ratio.Our combined ratio decreased from 79.0% for the year ended December 31, 2023 to 72.3% for the year ended
December 31, 2024, primarily as a result of an increase in Citizens policies assumed without acquisition costs.

Combined ratio, excluding catastrophic losses& prior year claims development. Our combined ratio, excluding catastrophic losses & prior year claims development decreased from 69.3% for the year ended December 31, 2023 to 55.7%
for the year ended December 31, 2024, primarily as a result of the decrease in expense ratio and increased earned premiums offset by an increase in named storms in