Company: SLDE
Filing Date: 2025-01-22
Form Type: DRS/A
Source: 0000950123-25-000502
Chunk: 122

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-01-22
Form: DRS/A
Chunk 122
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-in-force attributed to the UPC transaction, assumptions of policies from Citizens and organic new business production. Net investment income.Net investment income, inclusive of realized investment losses, increased from $2.5 million for the year ended December 31, 2022 to $20.1 million for the year ended December 31, 2023. Our 82

average investable assets increased from $179.4 million for the year ended December 31, 2022 to $487.7 million for the year ended December 31, 2023. The increase in net
investment income was due to growth in invested assets and higher market interest rates.

Policy fees. Policy fees increased from
$2.2 million for the year ended December 31, 2022 to $3.5 million for the year ended December 31, 2023. The increase in policy fees in the comparable periods was primarily attributable to the increased number of policies renewed
or new policies underwritten by the Company.

Other income.Other income increased from $1.2 million for the year ended
December 31, 2022 to $2.7 million for the year ended December 31, 2023. The increase in other income between the comparable periods was primarily attributable to increased commission income earned by our retail agency subsidiary that
sells on behalf of non-affiliated insurance companies.

Total revenue.Total revenue
increased from $242.4 million for the year ended December 31, 2022 to $468.5 million for the year ended December 31, 2023. The increase in total revenue was due primarily to growth in policies-in-force and investment income.

Expenses

Losses and loss adjustment expenses incurred, net.Losses and loss adjustment expenses incurred, net increased from $133.5 million
(inclusive of catastrophe losses from Hurricane Ian, Hurricane Nicole and other non-hurricane weather events of $46.1 million) for the year ended December 31, 2022 to $193.3 million (inclusive of catastrophe losses from non-hurricane
weather events of $45.6 million) for the year ended December 31, 2023. The increase in losses and loss adjustment expenses incurred, net resulted primarily from the growth in policies-in-force. Losses and loss adjustment expenses incurred, net
for the year ended December 31, 2023 included losses paid of $109.9 million and a $83.4 million increase in unpaid losses and loss adjustment expenses incurred,