Company: SLDE
Filing Date: 2025-04-25
Form Type: DRS/A
Source: 0000950123-25-003716
Chunk: 116

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-04-25
Form: DRS/A
Chunk 116
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This decrease is attributed to reduced costs from third parties in servicing policies in force.

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Interest expense.Interest expense increased from $2.4 million for the year
ended December 31, 2023 to $3.8 million for the year ended December 31, 2024. The increase was due primarily to the increase in outstanding debt.

Depreciation expense. Depreciation expense for the years ended December 31, 2023 and 2024 were $0.4 and $2.4 million,
respectively. The increase was due primarily to depreciation of capitalized costs of internal-use software projects that were put into production in 2024.

Amortization expense. Amortization expense for the years ended December 31, 2023 and 2024 were $8.2 million and
$7.9 million, respectively, representing 1.9% and 1.0%, respectively, of net premiums earned. The decrease was due primarily to sale of an intangible asset at the end of 2023.

Other operating expense. Other operating expense for the years ended December 31, 2023 and 2024 were approximately $0.2 and
$1.2 million, respectively. The increase was due primarily to estimated tax penalties and interest.

Income tax expense.Income tax expense was $30.3 million and $68.9 million for the years ended December 31, 2023 and 2024, respectively. Our effective tax rate for the year ended December 31, 2023 and 2024 was 25.7% and 25.4%, respectively.

Ratios

Loss ratio. Our loss ratio decreased from 43.8% for the year ended December 31, 2023 to 42.8% for the year ended December 31,
2024, primarily as a result of increased net premiums earned from increased policies in force offset by an increase in catastrophe losses from hurricane weather activity.

Expense ratio. Our expense ratio decreased from 35.2% for the year ended December 31, 2023 to 29.5% for the year ended
December 31, 2024, primarily due to an increase in Citizens policies assumed without acquisition costs.

Combined ratio.Our
combined ratio decreased from 79.0% for the year ended December 31, 2023 to 72.3% for the year ended December 31, 2024, primarily as a result of an increase