Company: SLDE
Filing Date: 2025-01-22
Form Type: DRS/A
Source: 0000950123-25-000502
Chunk: 121

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-01-22
Form: DRS/A
Chunk 121
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 that expired during the period presented, including policies that were eventually renewed 
 by customers during the period presented.                                                                       |

All of our policies acquired during the year ended December 31, 2022, and in force as at December 31, 2022 were a result of our acquisition of certain policies originally written by St. Johns Insurance Company, which was declared insolvent in March, 2022. Our policies acquired during the year ended December 31, 2023 increased by 22,399 policies, or 16%, compared to the prior year as a result of our inaugural participation in the Citizens take-outprogram and our acquisition of certain policies from UPC, further bolstered by the roll-outof our organic channel during the course of the year. In addition, for the year ended December 31, 2023, our policy renewals increased by 47,794, or 62%, as a result of the acquisition of policies from Citizens and UPC as compared to the same period in 2022. Our average premium per policy increased from $3,466 at December 31, 2022 to $4,116 at December 31, 2023, as a result of renewing acquired policies in accordance with Slide’s approved rates, including any approved rate increases effective prior to the renewal of the policy. Gross premiums earned.Gross premiums earned increased from $299.6 million for the year ended December 31, 2022 to $595.1 million for the year ended December 31, 2023. Our policies-in-force as of December 31, 2022 and December 31, 2023 were approximately 99,402, and 211,504 respectively, and this increase had a favorable impact on our gross premiums earned. Ceded premiums earned.Ceded premiums for the years ended December 31, 2022 and 2023 were approximately $63.0 million and $153.7 million, respectively, representing 21.0% and 25.8%, respectively, of gross premiums earned. The $90.7 million increase was primarily attributable to increased policies-in-force for the 2023-2024 contract year and an increased overall reinsurance coverage amount for Florida. Net premiums earned.Net premiums earned increased from $236.6 million for the year ended December 31, 2022 to $441.4 million for the year ended December 31, 2023. The increase in net premiums earned in the comparable periods was primarily attributable to growth in policies