Company: SLDE
Filing Date: 2025-06-09
Form Type: S-1/A
Source: 0001193125-25-137410
Chunk: 117

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-06-09
Form: S-1/A
Chunk 117
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 inspection fees. We recognize policy acquisition and other underwriting expenses ratably over the term of the underlying policy. Until renewed, policies assumed from Citizens have no associated policy acquisition and other underwriting expenses. General and administrative expenses.General and administrative expenses include compensation and related benefits, professional fees, office lease and related expenses, information system expenses, corporate insurance, and other general and administrative costs. Interest expense. Interest expense consists of interest paid on our commercial loans and Credit Facility (as defined below), amortization of debt issuance costs, net settlements of interest rate swaps, and changes in market value of interest rate swaps. Depreciation expense. Depreciation expense includes depreciation of property and equipment, including software developed for internal use. 77

Amortization expense. Amortization expense includes amortization of renewal rights
and other intangible assets.

Other operating expense.Other operating expense includes other miscellaneous expenses.

Income tax expense. Income tax expense generally consists of income taxes payable by our subsidiaries that are taxed as corporations.
We were incorporated as a corporation in the state of Delaware on March 2, 2021. As a corporation, we are subject to typical corporate U.S. federal and state income tax rates which we expect to result in a statutory tax rate of approximately
25% under current tax law.

Key Metrics & Ratios

We discuss certain key financial and operating metrics, described below, which provide useful information about our business and the
operational factors underlying our financial performance.

Loss ratio, expressed as a percentage, is the ratio of losses and loss
adjustment expenses incurred, net to net premiums earned.

Policy acquisition expense ratiois the ratio, expressed as a
percentage, of policy acquisition expenses and other underwriting expenses to net premiums earned.

Expense ratio, expressed
as a percentage, is the ratio of policy acquisition and other underwriting expenses, general and administrative expenses, and other operating expense to net premiums earned.

Combined ratio is the sum of the loss ratio and the expense ratio. A combined ratio under 100% indicates an underwriting profit. A
combined ratio over 100% indicates an underwriting loss.

Combined ratio, excluding catastrophic losses& prior year claims development is a non-GAAP financial measure. We define the combined ratio, excluding catastrophic losses & prior year claims development as the sum of the loss ratio, excluding losses associated with catastrophic losses and prior
year claims development, and the expense ratio. We use the combined ratio, excluding catastrophic losses & prior year claims development as an internal performance measure in the management of