Company: SLDE
Filing Date: 2025-01-22
Form Type: DRS/A
Source: 0000950123-25-000502
Chunk: 13

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-01-22
Form: DRS/A
Chunk 13
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 that we have a superior

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underwriting model that allows us to scale and grow profitability faster than our competition. We will continue to focus on writing personal residential policies within coastal specialty markets
while adding complementary product lines where we believe we can effectively and profitably grow. We plan to expand our geographical footprint and enter other coastal specialty markets where we believe the market opportunity is similar to Florida,
while also expanding our product offerings and introducing new lines such as commercial, residential and E&S products. Relatedly, we are under contract to acquire Pawtucket Insurance Company (“PIC”), a Rhode Island-domiciled P&C
insurance company, from a subsidiary of Heritage Insurance Holdings, Inc., subject to regulatory approval and other customary closing conditions. PIC was placed in rehabilitation in May 2023, is currently inactive and has no policies in force or
outstanding claims. The transaction recently received regulatory approval from the Rhode Island Department of Business Regulation—Insurance Division and the parties intend to close the transaction prior to the consummation of this offering.
Following the closing of the transaction, we intend to re-domicile PIC to South Carolina and rename it Slide Specialty Insurance Company. The re-domiciliation of PIC will require the approval of the South Carolina Department of Insurance, which is
not expected to be received prior to the consummation of this offering.

In the E&S insurance market, insurance carriers are
licensed on a “non-admitted” basis. The excess and surplus lines market often offers insurance carriers more flexibility in terms, conditions and rates than does the admitted market. We believe this will allow us to leverage our deep
underwriting and claims expertise while growing our profitable business and increasingly diversify risks within our portfolio.

Maintaining a conservative investment portfolio

We complement our strong reserve position with a conservative investment portfolio overseen by
BlackRock Investment Management, LLC (“BlackRock”). Our portfolio is mainly comprised of cash and cash equivalents and investment-grade fixed maturity securities. Our fixed maturity securities together comprised 96% of our total investment
portfolio as of December 31, 2023, had a weighted average effective duration of 2.661 years as of December 31, 2023, and an average fixed income credit rating of AA- (Standard & Poor’s)
as of December 31, 2023.

Industry Overview

Coastal specialty markets

According to the U.S. Census Bureau, as of 2017, approximately 14% of the total U.S. population (today, approximately 44 million people