Company: SLDE
Filing Date: 2025-05-23
Form Type: S-1
Source: 0001193125-25-125836
Chunk: 124

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-05-23
Form: S-1
Chunk 124
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 investment losses, increased from $20.9 million for the year
ended December 31, 2023 to $47.1 million for the year ended December 31, 2024. Our average investable assets increased from $484.7 million for the year ended December 31, 2023 to $983.7 million for the year ended
December 31, 2024. The increase in net investment income was due to increased equity from retained earnings and increased policies in force.

Policy fees. Policy fees increased from $3.5 million for the year ended December 31, 2023 to $6.6 million for the year
ended December 31, 2024. The increase in policy fees in the comparable periods was primarily attributable to increased renewals of existing policies.

Other income.Other income decreased from $2.7 million for the year ended December 31, 2023 to $0.8 million for the year
ended December 31, 2024. The decrease in other income between the comparable periods was primarily attributable to the sale of a small segment of commissionable premium produced for other insurance companies.

Total revenue.Total revenue increased from $468.5 million for the year ended December 31, 2023 to $846.8 million for
the year ended December 31, 2024. 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 $193.3 million
(inclusive of catastrophe losses from non-hurricane weather events of $46.7 million) for the year ended December 31, 2023 to $339.3 million (inclusive of catastrophe losses from non-hurricane weather events of $66.8 million and
catastrophe losses from hurricane weather events of $87.9 million) for the year ended December 31, 2024. 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 year ended December 31, 2024 included losses paid of $229.3 million and a $110.0 million increase in unpaid losses and loss adjustment expenses incurred, net, including the addition of
$75.1 million of IBNR reserves.