Company: SLDE
Filing Date: 2025-05-23
Form Type: S-1
Source: 0001193125-25-125836
Chunk: 119

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-05-23
Form: S-1
Chunk 119
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 2024 to $1.5 million for the
three months ended March 31, 2025. The increase in policy fees in the comparable periods was primarily attributable to increased renewals of existing policies.

Other income.Other income decreased from $0.5 million for the three months ended March 31, 2024 to $0.2 million for the
three months ended March 31, 2025. The decrease in other income between the comparable periods was primarily attributable to a decrease in commissionable premium produced for other insurance companies.

Total revenue.Total revenue increased from $199.1 million for the three months ended March 31, 2024 to $281.6 million
for the three months ended March 31, 2025. The increase in total revenue was due primarily to an increase in net premiums earned in the comparable periods primarily attributable to assumptions of policies from Citizens and increased renewals of
existing policies.

Expenses

Losses and loss adjustment expenses incurred, net.Losses and loss adjustment expenses incurred, net increased from $79.0 million
(inclusive of catastrophe losses from non-hurricane weather events of $20.3 million) for the three months ended March 31, 2024 to $83.8 million (inclusive of catastrophe losses from non-hurricane weather events of $2.3 million and catastrophe losses from hurricane weather events of $0.0 million) for the three months ended March 31, 2025. The increase in losses and loss adjustment
expenses incurred, net resulted primarily from the growth in policies in force. Losses and loss adjustment expenses incurred, net for the three months ended March 31, 2024 included losses paid of $36.6 million and a $42.3 million
increase in unpaid losses and loss adjustment expenses incurred, net, including the addition of $27.2 million of IBNR reserves. As of March 31, 2025, we reported $287.2 million in unpaid losses and loss adjustment expenses incurred,
net, which included $237.2 million attributable to IBNR, or 82.6% of total reserves for unpaid losses and loss adjustment expenses incurred, net.

Policy acquisition and other underwriting expenses.Policy acquisition and other underwriting expenses for the three months ended March
31, 2024 and 2025 were approximately $17.1 million and $28.6 million, respectively, representing 9.1% and 10.7%, respectively, of net premiums