Company: SLDE
Filing Date: 2025-01-22
Form Type: DRS/A
Source: 0000950123-25-000502
Chunk: 227

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-01-22
Form: DRS/A
Chunk 227
---
 policies, representing $208.0 million in annualized gross premiums.

During 2023, the Company was approved by the FLOIR
to assume a total of 250,000 policies from Citizens. In 2023, approximately 82,500 policies were assumed from Citizens, representing approximately $284.8 million in annualized gross premiums written related to these transactions.

The Company fully assumes the Citizens policies on a prospective basis. When the policies are assumed, the Company recognizes a premium receivable for the
amount of unearned premium to be assumed and a corresponding liability for unearned premium reserves to be ceded. The Company has no contractual obligation to pay claims that occur prior to the assumption date and no liability for claims reserves
are recognized at assumption. Subsequent to the cession of unearned premium, the Company receives cash payment of the unearned premium from Citizens. There is no payment by the Company to Citizens. The Company recognizes the full amount of the
unearned premium to revenue on a daily pro rata basis over the remaining policy period.

Adoption of New Accounting Standard

In March 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”)
2023-01 Leases (Topic 842): Common Control Arrangements. For public entities, this update amends the required amortization period for leasehold improvements associated with common control leases to be over the
useful life of the leasehold improvements to the common control group, regardless of the lease term, as long as the lessee controls the use of the asset through a lease. In addition, if the lessor is
sub-leasing the asset while simultaneously leasing the asset from an entity not within the same common control group, the amortization period may not exceed the amortization period of the common control group.
Once the lessee no longer controls the use of the asset, the asset will be accounted for as a transfer between entities under common control through

F-8

an adjustment to equity. ASU 2023-01 was adopted by the Company effective January 1, 2024 and does not have a material impact on its financial
position.

Consolidation Policy

The Financial
Statements include the accounts of the Company, its wholly-owned subsidiaries and Variable Interest Entities (“VIEs”) in which the Company is determined to be the primary beneficiary. This analysis includes a review of the VIE’s
capital structure, related contractual relationships and terms, nature of the VIE’s