Company: SLDE
Filing Date: 2025-06-09
Form Type: S-1/A
Source: 0001193125-25-137410
Chunk: 62

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-06-09
Form: S-1/A
Chunk 62
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 or integrate the operations, products, technologies or personnel gained through any such acquisition without a material adverse effect on our business, results of operations and financial condition. Changes in accounting practices and future pronouncements may materially affect our reported financial results. Developments in accounting practices may require us to incur considerable additional expenses to comply, particularly if we are required to prepare information relating to prior periods for comparative purposes or to apply the new requirements retroactively. The impact of changes in current accounting practices and future pronouncements cannot be predicted but may affect the calculation of net income, shareholders’ equity and other relevant financial statement line items. 39

Our insurance subsidiary is required to comply with statutory accounting principles
(“SAP”). SAP and various components of SAP are subject to constant review by the NAIC and its task forces and committees, as well as state insurance departments, in an effort to address emerging issues and otherwise improve financial
reporting. Various proposals are pending before committees and task forces of the NAIC, some of which, if enacted, could have negative effects on insurance industry participants. The NAIC continuously examines existing laws and regulations. We
cannot predict whether or in what form such reforms will be enacted and, if so, whether the enacted reforms will positively or negatively affect us.

We rely on independent agents to write voluntary insurance policies for us, and if we are not able to attract and retain independent agents, our revenues would be negatively affected.

We write voluntary insurance policies (i.e., policies not acquired through the
Citizens program) through a network of independent agents. Of our network of over 5,300 independent agents, approximately 30% are affiliated with a large agency network with which we have entered into a master agency agreement. As of
December 31, 2024, policies written through independent agents constituted approximately 99% of our total in force premiums and represented approximately $1,335 million in annualized premiums. In addition, as of December 31, 2024
approximately 2,200 independent agents in our network produced 90% of this business. We expect to increase the number of voluntary policies we write as our business expands, which will further increase our reliance on our network of independent
agents. In fact, in the future, we may rely on independent agents to be the primary source for our property insurance policies. If any of our independent agents cease writing policies for us, or if any of our master agency agreements are terminated,
we may suffer a reduction in the amount of products we are able to sell