Company: SLDE
Filing Date: 2025-04-28
Form Type: DRSLTR
Source: 0000950123-25-003800
Chunk: 4

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-04-28
Form: DRSLTR
Chunk 4
---
business” and aggregated all policies acquired from Citizens during 2024, they would be “significant” under Rule 1-02(w)– exceeding the income test 20% threshold at approximately 29% (the Company estimates the income from continuing operations of policies acquired from Citizens for the relevant period by dividing direct earned premiums of such acquired policies by total direct earned premiums of all Citizens policies and multiplying that percentage and total underwriting income of Citizens). The asset test did not exceed the 20% threshold at approximately 17% and the investment test was inapplicable since no consideration was paid. While the income test was tripped, we would note that a substantial portion of those policies, representing 12 points of the 29%, were acquired in January 2024 and accordingly have been included in the Company’s results of operations for over a year (11 months in 2024 and three months in 2025). In addition, policies representing all but two points of the 29% were acquired in or prior to October 2024 and have been included in the Company’s results of operations for almost six months. Accordingly, investors have actual financial information for the vast majority of the policies acquired for almost six months under the Company’s management, which we would submit is much more useful to investors then financial information for a full year when managed by a not-for-profitgovernment entity that is different in every way, as noted above . In addition, the actual performance of the selected policies are reflected on the Company’s balance sheet. The Company strongly believes that it is neither helpful nor appropriate to present the historical financial performance of the policies acquired from Citizens or to combine it on a pro forma basis with the Company’s actual financial results because the Company and Citizens are different in every material way: underwriting results, underwriting standards, renewal rates, mid-termcancellation rates, reserving practices, claims handling, general and administrative expenses, reinsurance structure and costs, loss ratios, the ability to assess policyholders that Slide does not have under Florida law, and dozens of other key attributes. The Company has only limited access to historical financial information regarding the policies acquired from Citizens. The Company has included information regarding the number of policies acquired in the registration statement as well as the related annualized gross premiums. In lieu of additional historical financial information, which as noted above the Company believes would be misleading and does not have access to, the Company proposes including:

| • |     | the direct earned premiums of the policies acquired for 2024 prior to the date of