Company: SLDE
Filing Date: 2025-03-10
Form Type: DRS/A
Source: 0000950123-25-003025
Chunk: 221

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-03-10
Form: DRS/A
Chunk 221
---
3, respectively. SIC is domiciled in the state of Florida and is a wholly-owned subsidiary of SIH. The insurance subsidiary was incorporated on February 17, 2022, and commenced operations on March 1, 2022, after receiving its Certificate of Authority from the Florida Department of Financial Services, Office of Insurance Regulation (the “FLOIR”). SIC provides homeowners insurance coverage to policyholders in Florida and South Carolina, with Florida policyholders representing approximately 99% of direct written premiums written for the year ended December 31, 2024. SIC is subject to the broad administrative powers of the FLOIR, which include, but are not limited to, limitation of dividends distributable, modification of management services and tax-sharingagreements, limitations on new and renewal business, and requirements for capital and surplus. F-8

Slide Insurance Holdings, Inc.

Notes to Consolidated Financial Statements

(Dollar amounts in thousands, except share and per share amounts, unless otherwise stated)

Assumed Business

From time to time, the Company may participate in a “take-out program” through which the Company assumes
insurance policies held by Citizens Property Insurance Corporation (“Citizens”), a Florida state-supported insurer. The take-out program is a legislatively mandated program designed to reduce the
state’s risk exposure by encouraging private companies to assume policies from Citizens. During 2024, the Company was approved by the Florida Department of Financial Services, Office of Insurance Regulation (“FLOIR”) to assume a total
of 451,400 policies. The approval date noted is based on actual takeout date and not the date the Company received approval to participate from the FLOIR. The Company assumed approximately 275,600 policies, representing $484.1 million in
annualized gross premiums.

During 2023, the Company was approved by the FLOIR to assume a total of 250,000 policies from Citizens. In 2023, approximately
82,500 policies were assumed from Citizens, representing approximately $284.8 million in annualized gross written premiums related to these transactions.

Basis of Presentation

The consolidated financial
statements include the accounts of SIH and its wholly-owned subsidiaries, as well as variable interest entities (“VIE) in which the Company is determined to be the primary beneficiary, and have been prepared in conformity with accounting
principles generally accepted in the United States of America (“GAAP”) which, for SIC, may vary in some respects from statutory accounting principles, which