Company: SLDE
Filing Date: 2025-06-18
Form Type: 424B4
Source: 0001193125-25-142810
Chunk: 156

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-06-18
Form: 424B4
Chunk 156
---
 as the state-owned insurer of last resort. It is incentivized by the state to transfer policies from its books to the private market in order to reduce systemic risk to the insurance market.
Citizens generally offers depopulations on a monthly basis. The Company has selectively assumed personal residential and commercial residential policies from Citizens in fifteen separate assumption transactions between August 2023 and March 2025.
For context, the direct earned premiums of the Citizens policies assumed by the Company during the course of 2024 prior to the date of assumption of such policies was $293,158,939 for the year ended December 31, 2023 according to the Annual
Statement of Citizens Property Insurance Corporation for 2023 and management’s calculations. In addition, the unearned premiums of Citizens policies assumed by the Company during 2024, was $254,322,831 as of December 31, 2023 according to
the Citizens Annual Statement and management’s calculations.

In order to be eligible to participate in an assumption transaction,
the Company must first apply to the FLOIR for approval to assume a specified number of policies approximately four and a half months prior to the proposed assumption date. The Company prepares and submits an application showing the cumulative pro
forma financial impact of assuming all policies for which it has applied and all policies it has been previously approved to assume. Approximately 45 days after the application has been submitted the Company is informed whether they have been
approved for the assumption. Once Slide receives FLOIR approval indicating the maximum number of policies it may assume, Citizens provides the Company with a list of policies eligible for assumption and the relevant policy data. Slide evaluates
these policies over an approximately two-week period and submits to Citizens a list of policies it would like to assume, together with estimated renewal premiums to Citizens, as discussed in more detail below
under the sub-heading “—Slide’s Process and Procedures for Selecting Citizens Policies.”

Citizens then sends all private insurance company offers to the policyholder, which includes the amount of their estimated premium upon
renewal. Policyholders generally have approximately six weeks to select their preferred insurance carrier. If the renewal premium for any private insurer’s offer is within 20% of Citizens’ renewal premium, the policyholder cannot elect not
to participate in, or “opt out” of the assumption by such private insurer (such as the Company). If the renewal premium comparison is more than 20% of Citizens’ renewal premium, the policyholder may “opt out” of the
assumption.