Company: SLDE
Filing Date: 2025-01-22
Form Type: DRS/A
Source: 0000950123-25-000502
Chunk: 153

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-01-22
Form: DRS/A
Chunk 153
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 by county and dividing by the TIV within
those counties at the time of the storm to come up with a loss factor relative to TIV, which was then multiplied by our estimated TIV by county as of September 30, 2024. Based on this testing using Verisk Touchstone, there are no historical Florida
storms that exhaust our first event reinsurance tower and it is estimated that our maximum loss based on known events is $983 million, substantially less than our $1.86 billion first event reinsurance tower, which is a testament to the
strength of reinsurance protection. We also purchase third event reinsurance coverage, which provides $98 million of coverage for third event storms, which is in excess of the two-event coverage that is
typically purchased in the Florida market.

104

For the twelve months ending May 31, 2025, we have purchased reinsurance from the following sources: (i) the FHCF, (ii) 30 private reinsurers, which were all rated “A-”or higher by A.M. Best or S&P, (iii) four private reinsurers that have provided collateral to fully cover their exposure and (iv) a protected cell reinsurer whose shares are owned by Slide Reinsurance Holdings, LLC, our wholly-owned reinsurance subsidiary. Our entire reinsurance program is placed with AM Best “A” rated reinsurers or better, fully collateralized reinsurers, or the FHCF. Reserves We maintain loss and loss adjustment expense (“LAE”) reserves to cover estimated liabilities for all specific claims reported and unreported claims that have been incurred but not yet reported (“IBNR”). The reserves are estimates based on actuarial projections and the expected ultimate cost to settle and administer each claim and our ultimate liability may be greater or less than the current reserves. Our reserves estimates are based upon past loss experience modified for current trends as well as prevailing economic, legal and social conditions and facts and circumstances known at the time and are subject to significant uncertainty. The reserves are maintained net of estimated related salvage and subrogation recoverables and reinsurance recoverables. Once a claim is reported, we establish a case reserve for the estimated amount of the expected payment after an appropriate assessment of coverage, damages and any additional investigation needed, including information received from the claims adjuster. Our estimate is based on general insurance reserving practices and on the experience and knowledge of our claim adjusters regarding the nature and value of the specific type of claim. We periodically adjust case reserves based on subsequent developments