Company: SLDE
Filing Date: 2025-05-23
Form Type: S-1
Source: 0001193125-25-125836
Chunk: 118

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-05-23
Form: S-1
Chunk 118
---
 increased by 20,606, or 67%, as a result of the renewal of policies acquired from Citizens as compared to the same period in 2024 and organic policy renewals. For the three months ended March 31, 2025, our policy renewal rate was 82%, a decrease from 86% for the same period in 2024. Our average premium per policy increased from $4,053 at March 31, 2024 to $4,073 at March 31, 2025, as a result of the addition of commercial residential (“CRES”) policies, which have a higher average premium. Gross premiums earned.Gross premiums earned increased from $237.4 million for the three months ended March 31, 2024 to $350.9 million for the three months ended March 31, 2025. Our policies in force as of March 31, 2024 and March 31, 2025 were approximately 257,405 and 348,029 respectively, and this increase had a favorable impact on our gross premiums earned. Ceded premiums earned.Ceded premiums for the three months ended March 31, 2024 and 2025 were approximately $49.3 million and $84.9 million, respectively, representing 20.8% and 24.2%, respectively, of gross premiums earned. The $35.6 million increase was primarily attributable to increased catastrophe reinsurance purchased due to increased policies in force. 80

Net premiums earned.Net premiums earned increased from $188.1 million for the
three months ended March 31, 2024 to $266.0 million for the three months ended March 31, 2025. The increase in net premiums earned in the comparable periods was primarily attributable to assumptions of policies from Citizens and
increased renewals of existing policies.

Net investment income.Net investment income, inclusive of realized investment losses,
increased from $9.6 million for the three months ended March 31, 2024 to $13.8 million for the three months ended March 31, 2025. Our average investable assets increased from $810 million for the three months ended March 31,
2024 to $1,261 million for the three months ended March 31, 2025. The increase in net investment income was due to increased equity from retained earnings and increased policies in force.

Policy fees.Policy fees increased from $1.0 million for the three months ended March 31,