Company: SLDE
Filing Date: 2025-05-23
Form Type: S-1
Source: 0001193125-25-125836
Chunk: 170

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-05-23
Form: S-1
Chunk 170
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IR. In many instances, Florida’s insurance laws and regulations are even more stringent than those promulgated by the NAIC or other states. As an initial matter, Florida routinely places additional restrictions on new insurers as a condition of receiving a certificate of authority. These restrictions are typically memorialized in a consent order entered into between the FLOIR and the insurer applying for a certificate of authority. We were subject to such a consent order in which we agreed to higher or more stringent restrictions than are otherwise required under Florida law. Under such consent order, we were subject to such higher or more stringent restrictions until January 7, 2025. The material restrictions we agreed to included:

| • |     | Florida law requires a residential property writer to maintain surplus of the greater of $15.0 million or 10% of                                                                                                                                         
 its liabilities. Pursuant to the consent order, we agreed to establish a minimum capital and surplus of 300% of our authorized control level risk-based capital. As of December 31, 2024, our insurance subsidiary held surplus of $208.0 million, which 
 represents 29.4% of its liabilities, and a capital and surplus of the authorized control level risk-based capital of 396%, in full compliance with Florida law and the consent order.                                                                    |

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We are also subject to consent orders setting conditions for FLOIR’s approval of the Citizens assumption transactions in which we have participated. We are required by consent order to comply with the assumption agreements entered into with Citizens at the time of each assumption transaction, which requires that for the assumed policies, we must offer to renew each policy for a minimum of three years provided the policy satisfies our underwriting guidelines. We are in full compliance with all consent orders issued with regard to Citizens’ depopulation program. As the ultimate parent company of the Carrier, we are also subject to certain laws of the State of Florida governing insurance holding company systems. These laws, among other things, (i) require us to file periodic information with the FLOIR, including information concerning our capital structure, ownership, financial condition and general business operations, (ii) regulate certain transactions between our Carrier and affiliates, including the amount of dividends and other distributions the Carrier may pay, the terms of surplus notes and amounts that our affiliates can charge the Carrier for services such as policy administration and claims administration and (iii) restrict the ability of any one person to acquire certain levels of our voting securities without prior regulatory approval. South Carolina South Carolina has adopted several model laws