Company: SLDE
Filing Date: 2025-05-23
Form Type: S-1
Source: 0001193125-25-125836
Chunk: 31

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-05-23
Form: S-1
Chunk 31
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. Our limited operating history makes it difficult to evaluate our current business performance, implementation of our business model and our future prospects. We launched our business to sell homeowners and commercial residential insurance in 2021 and have a limited operating history. Due to our limited operating history and rapid growth we have experienced since we began operations, our operating results are difficult to predict and our historical results may not be indicative of, or comparable to, our future results. In addition, we have limited data to validate key aspects of our business model. We cannot provide any assurance that the data that we collect will provide useful measures for evaluating our business model. Our inability to adequately assess our performance and growth could have a material adverse effect on our brand, business, results of operations and financial condition. We may pursue opportunities to participate in Citizens’ take-out programand directly assume policies issued by Citizens to policyholders who were otherwise unable to obtain private insurance. Take-outopportunities are subject to a number of timing and execution risks, and we may fail to participate in Citizens’ take-out programson terms that are ultimately profitable to us, or at all. Citizens acts as Florida’s state-owned insurer of last resort, and is the largest homeowners insurer in Florida as measured by premiums in-force.From time to time, Citizens transfers certain of its existing policies to private companies in order to reduce the State of Florida’s risk exposure. We participated in seven take-outopportunities in 2024, assuming 135,974 policies. The Citizens personal residential policies assumed in 2024 represented 39.6% of our policies in force and 52% of our premiums in force as of December 31, 2024. Although each policy we pursue from Citizens is run through our standard underwriting procedures, the amount of data made available to us by Citizens may be less or different from what is available to us through other channels. The lack of availability of this information may pose a material risk to our underwriting profitability with respect to any take-outs we pursue. Additionally, there can be no guarantee that Citizens will timely offer sizeable take-out opportunitiesto the private insurance market that would meet our underwriting and profitability criteria or continue the depopulation program at all. While Citizens does replenish its policies after conducting take-outs, there is no guarantee that such replenishments will meet our underwriting and profitability criteria or provide attractive take-out 22

opportunities for us in the future, and our financial condition may suffer as a result. In addition, there may be a