Company: SLDE
Filing Date: 2025-01-22
Form Type: DRS/A
Source: 0000950123-25-000502
Chunk: 14

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-01-22
Form: DRS/A
Chunk 14
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lived within 129 coastline counties along the Atlantic seaboard. While the property catastrophe risk along the seaboard is not as high as Florida, it makes up a significant portion of the remaining U.S. property catastrophe limit. As we enter new
coastal territories, we believe we can take advantage of this opportunity to significantly expand the size of our business and explore the expansion of our business into other complementary business lines and organic distribution channels.

As of the end of 2023, Florida was the 3 largest U.S. state with a population of
approximately 22 million. The state has seen strong population growth over the last decade amounting to over 17% since 2012. According to the Weldon Cooper Center for Public Service at the University of Virginia, the state population is
projected to further expand by 32% to approximately 29 million by 2040. As a result of this growth, there has been a sharp increase in the number of residential properties in the state. Combined with the recent inflationary trends, this has
driven an increase in the TIV of residential properties. This, along with inflationary trends and pullback of insurance capacity, has provided additional tailwinds to the homeowners and commercial residential insurance market in Florida. As a
result, the total homeowners’ premiums in Florida have grown from $8.4 billion in 2012 to $14.4 billion in 2022. We believe this trend will continue and accelerate top line growth for the foreseeable future.

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Due to its location, Florida is exposed to an increased risk of hurricanes during the
Atlantic hurricane season, which usually spans from June 1 through November 30. Over the past 20 years, several significant hurricanes have made landfall in Florida—including Charley, Frances, Ivan and Jeanne (2004); Katrina, Rita and
Wilma (2005); Irma (2017); Michael (2018); lan (2022); Helene (2024) and Milton (2024). Consequentially, personal residential insurance and claims servicing are vitally important to Florida residents.

The Florida personal residential insurance market is highly fragmented and dominated by in-state
specialists, including Citizens, Florida’s “insurer of last resort.” Citizens was created in 1992 through a combination of the Florida Residential P&C Joint Underwriting Association and Florida Windstorm Underwriting Association
in the aftermath of Hurricane Andrew, a category five hurricane that caused significant insured losses. The landfall of Hurricane Andrew