Slide Reports Second Quarter 2025 Results
Slide Insurance Holdings (NASDAQ: SLDE) reported strong Q2 2025 financial results, marked by significant growth across key metrics. The company achieved 25.0% year-over-year growth in gross premiums written to $435.4 million and a 30.5% increase in net income to $70.1 million.
Notable achievements include a combined ratio improvement of 250 basis points to 67.4% and diluted earnings per share of $0.56. The company's loss ratio improved significantly to 37.4%, down from 45.9% in the prior year. Slide successfully completed its IPO in June 2025, strengthening its balance sheet. The company maintained strong policy growth, with 348,439 policies in force as of June 30, 2025, compared to 275,178 in the prior year.
Slide Insurance Holdings (NASDAQ: SLDE) ha registrato solidi risultati finanziari nel 2° trimestre 2025, caratterizzati da una crescita significativa nei principali indicatori. La società ha ottenuto una crescita annua del 25,0% dei premi lordi contabilizzati, a $435,4 milioni e un aumento dell'utile netto del 30,5%, a $70,1 milioni.
Tra i risultati di rilievo si segnala il miglioramento del combined ratio di 250 punti base, che si è attestato al 67,4%, e un utile diluito per azione di $0,56. Il loss ratio è migliorato sensibilmente, al 37,4% rispetto al 45,9% dell'anno precedente. Slide ha completato con successo la sua IPO a giugno 2025, rafforzando la struttura patrimoniale. La società ha mantenuto una forte crescita delle polizze, con 348.439 polizze in vigore al 30 giugno 2025, rispetto a 275.178 dell'anno precedente.
Slide Insurance Holdings (NASDAQ: SLDE) presentó sólidos resultados en el 2T 2025, con crecimiento relevante en los principales indicadores. La compañía alcanzó un aumento interanual del 25,0% en las primas brutas emitidas, hasta $435,4 millones y un incremento del 30,5% en el beneficio neto, hasta $70,1 millones.
Entre los hitos destaca la mejora del combined ratio en 250 puntos básicos, hasta el 67,4% y un beneficio por acción diluido de $0,56. La ratio de siniestralidad mejoró notablemente, hasta el 37,4% desde el 45,9% del año anterior. Slide completó con éxito su OPV en junio de 2025, reforzando su balance. La compañía mantuvo un fuerte crecimiento de pólizas, con 348.439 pólizas en vigor al 30 de junio de 2025, frente a 275.178 del año anterior.
Slide Insurance Holdings (NASDAQ: SLDE)는 2025년 2분기에 주요 지표 전반에서 의미 있는 성장을 보이며 견조한 실적을 발표했습니다. 회사는 총보험료(글로스 프리미엄)가 전년 대비 25.0% 증가한 $435.4 million을 기록했고, 순이익은 30.5% 증가한 $70.1 million을 달성했습니다.
주요 성과로는 결합비율(combined ratio)이 250 베이시스 포인트 개선되어 67.4%를 기록했고, 희석 주당순이익은 $0.56이었습니다. 손해율(loss ratio)은 전년의 45.9%에서 크게 개선되어 37.4%로 낮아졌습니다. Slide는 2025년 6월에 IPO를 성공적으로 마무리해 재무구조를 강화했습니다. 2025년 6월 30일 기준 유효 보험계약 수는 348,439건으로 전년의 275,178건에서 증가했습니다.
Slide Insurance Holdings (NASDAQ: SLDE) a publié de solides résultats pour le 2e trimestre 2025, marqués par une croissance significative des principaux indicateurs. La société a enregistré une hausse annuelle de 25,0% des primes brutes émises, à 435,4 millions $ et une augmentation de 30,5% du bénéfice net, à 70,1 millions $.
Parmi les points saillants figurent une amélioration du combined ratio de 250 points de base, à 67,4% et un bénéfice dilué par action de 0,56 $. Le ratio de sinistres s'est nettement amélioré, à 37,4% contre 45,9% l'année précédente. Slide a finalisé son introduction en bourse en juin 2025, renforçant ainsi son bilan. La société a maintenu une forte croissance du nombre de polices, avec 348 439 polices en vigueur au 30 juin 2025, contre 275 178 l'année précédente.
Slide Insurance Holdings (NASDAQ: SLDE) meldete starke Finanzergebnisse für das 2. Quartal 2025 mit deutlichem Wachstum bei den wichtigsten Kennzahlen. Das Unternehmen erzielte ein jährliches Wachstum der gebuchten Bruttoprämien von 25,0% auf $435,4 Millionen und einen Anstieg des Nettogewinns um 30,5% auf $70,1 Millionen.
Zu den bemerkenswerten Ergebnissen gehört eine Verbesserung der Combined Ratio um 250 Basispunkte auf 67,4% sowie ein verwässertes Ergebnis je Aktie von $0,56. Die Schadenquote verbesserte sich deutlich auf 37,4% gegenüber 45,9% im Vorjahr. Slide schloss im Juni 2025 erfolgreich seinen Börsengang ab und stärkte damit die Bilanz. Das Unternehmen verzeichnete ein starkes Policenwachstum mit 348.439 Policen zum 30. Juni 2025 gegenüber 275.178 im Vorjahr.
- Gross premiums written increased 25.0% to $435.4 million year-over-year
- Net income grew 30.5% to $70.1 million with $0.56 EPS
- Combined ratio improved to 67.4%, indicating strong underwriting profitability
- Loss ratio improved significantly by 850 basis points to 37.4%
- Successfully completed IPO in June 2025, strengthening capital position
- Policies in force grew 26.6% year-over-year to 348,439
- Return on equity decreased to 10.0% from 16.9% year-over-year
- Policy acquisition and underwriting expenses increased significantly to $32.1 million from $17.8 million
- General and administrative expenses rose to $37.9 million from $26.8 million
Insights
Slide delivers exceptional Q2 results with 25% premium growth, 30.5% profit increase, and industry-leading 67.4% combined ratio post-IPO.
Slide Insurance has delivered exceptional second quarter results that demonstrate remarkable operational execution following their June 2025 IPO. The 25% year-over-year increase in gross premiums written to
What's particularly impressive is Slide's combined ratio of 67.4%, which improved 250 basis points year-over-year. For context, the property insurance industry typically considers anything below 95% as profitable, making Slide's 67.4% ratio exceptionally strong and indicative of disciplined underwriting. The loss ratio improvement of 850 basis points to 37.4% is remarkable and suggests their tech-enabled underwriting approach is effectively selecting better risks.
The company's growth stems from two primary sources: acquisitions of policies from Citizens (Florida's state-run insurer of last resort) and strong retention of existing policies. This dual-channel growth strategy has increased their policies in force by
While the return on equity declined to
The lower catastrophe losses (
- Gross Premiums Written Increased
- Net Income Grew
- Combined Ratio Improved 250 Basis Points Year-over-Year to
- Completed Initial Public Offering in June 2025 -
TAMPA, Fla., Aug. 12, 2025 (GLOBE NEWSWIRE) -- Slide Insurance Holdings, Inc. (“Slide” or the “Company”) (Nasdaq: SLDE) today reported results for the second quarter ended June 30, 2025.
Second Quarter 2025 Highlights
- Gross premiums written grew
25.0% to$435.4 million , compared to$348.3 million in the prior-year period. - Total revenue increased
25.1% to$261.6 million , compared to$209.1 million in the prior-year period. - Net income grew
30.5% to$70.1 million , compared to$53.7 million in the prior-year period. Diluted earnings per share for the second quarter of 2025 was$0.56 . - Loss ratio of
37.4% , compared to45.9% in the prior-year period. - Combined ratio of
67.4% , compared to69.9% in the prior-year period.
“We delivered another strong quarter, building on our continued success, and we are excited to achieve a major milestone for Slide by successfully completing our initial public offering,” said Bruce Lucas, Chairman and Chief Executive Officer of Slide. “For the quarter, we generated significant year-over-year growth across all of our key metrics. Our underwriting technology continues to outperform, allowing us to generate superior underwriting returns. By leveraging our well-capitalized balance sheet and tech-enabled, data-driven underwriting capabilities, we are well-positioned to continue executing on our long-term growth strategy, while creating long-term value for our shareholders.”
Second Quarter 2025 Operating Results
Gross premiums written were
Policies in force as of June 30, 2025 were 348,439, compared to 348,029 as of March 31, 2025 and 275,178 as of June 30, 2024; sequentially, increased policy renewals were offset by lower policies written as a result of the completion of offers under the Farmers renewal rights agreement in February 2025.
Net premiums earned grew
Total revenue of
Losses and loss adjustment expenses (LAE) incurred, net were
Policy acquisition and other underwriting expenses were
General and administrative expenses were
Combined ratio improved 250 basis points to
Net income grew
Key Ratios
In this press release we discuss certain key ratios, described below, which provide useful information about our business and the operational factors underlying our financial performance.
Loss ratio, expressed as a percentage, is the ratio of losses and loss adjustment expenses incurred, net to net premiums earned.
Policy acquisition expense ratio is the ratio, expressed as a percentage, of policy acquisition expenses and other underwriting expenses to net premiums earned.
Expense ratio, expressed as a percentage, is the ratio of policy acquisition and other underwriting expenses, general and administrative expenses, and other operating expense to net premiums earned.
Combined ratio is the sum of the loss ratio and the expense ratio. A combined ratio under
Webcast and Conference Call
Slide will hold a conference call to discuss financial results today at 5:00 pm Eastern Time. A live webcast of the conference call will be available at ir.slideinsurance.com. The dial-in number for the conference call is (877) 407-9208 (toll-free) or (201) 493-6784 (international). Please dial the number 10 minutes prior to the scheduled start time.
A webcast replay of the call will be available at ir.slideinsurance.com for one year following the call.
Forward-Looking Statements
Statements in this press release and the Company’s earnings call that are not historical facts are forward-looking statements that are subject to certain risks and uncertainties that could cause actual events and results to differ materially from those discussed herein. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “aim,” “estimates,” “predicts,” “potential” or “continue,” the negative of these terms and other comparable terminology and relate, without limitation, to the Company’s beliefs and expectations regarding the Company’s (i). projections of future financial performance, (ii) growth strategies, (iii) business trends, (iv) sustainable, long-term growth, including the drivers of such growth, (v) competitive advantages, (vi) ability to achieve top-line growth and margin expansion and create long-term value for its shareholders, (vi) underwriting profitability, and (viii) capitalization and profitability. These statements are only predictions based on Slide’s current expectations and projections about future events and are not guarantees of actual results, level of activity, performance or achievements. Although Slide believes the expectations reflected in the forward-looking statements are based on reasonable assumptions, there are important factors that could cause the Company’s actual results, level of activity, performance or achievements to differ materially from those anticipated in any forward-looking statements, including, among others, our limited operating history; the success of the Company’s underwriting and profitability initiatives; inflation and other changes in economic conditions (including changes in interest rates and financial and real estate markets), including changes that may impact demand for our products and our operations; lack of effectiveness of exclusions and loss limitation methods in the insurance policies we assume or write; inherent uncertainty of our models and our reliance on such models as a tool to evaluate risk; the impact of macroeconomic conditions, including declining consumer confidence, inflation, high unemployment and the threat of recession; the impact of new federal and state regulations that affect the property and casualty insurance market and our failure to meet increased regulatory requirements, including minimum capital and surplus requirements; the cost of reinsurance, the collectability of reinsurance and our ability to obtain reinsurance coverage on terms and at a cost acceptable to us; assessments charged by various governmental agencies; pricing competition and other initiatives by competitors; our ability to obtain regulatory approval for requested rate changes, and the timing thereof; legislative and regulatory developments; the outcome of litigation pending against us, including the terms of any settlements; risks related to the nature of our business; performance of our investment portfolio; the adequacy of our liability for losses and loss adjustment expense; ratings by industry services; catastrophe losses; reliance on key personnel; weather conditions (including the severity and frequency of storms, hurricanes, tornadoes, wildfires and hail); acts of war and terrorist activities; court decisions and trends in litigation; and other matters described from time to time by us in our filings with the Securities and Exchange Commission.
Any forward-looking statement made by Slide in this press release and the earnings call speak only as of the date on which it is made. Slide undertakes no obligation to update any forward-looking statement, whether as a result of new information, actual results, revised expectations or otherwise, except as may be required by law.
About Slide
Slide is a technology-enabled insurance company that makes it easy for homeowners to choose the right coverage for their unique needs and budgets. Slide's cutting-edge technology leverages artificial intelligence and big data to optimize and streamline every part of the insurance process. Based in Tampa, FL, Slide was founded by Bruce and Shannon Lucas, insurance insiders with a deep understanding of how technology can be applied to achieve better underwriting outcomes. For more information, please visit https://www.slideinsurance.com.
Contacts
Investors
ir@slideinsurance.com
Media
Rachel Carr
Chief Marketing Officer
press@slideinsurance.com
| Slide Insurance Holdings, Inc. Condensed Consolidated Statements of Operations (Unaudited) (Dollar amounts in thousands, except per share amounts) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenues: | ||||||||||||||||
| Gross premiums written | $ | 435,384 | $ | 348,336 | $ | 713,633 | $ | 592,964 | ||||||||
| Change in unearned premiums | (96,726 | ) | (87,769 | ) | (24,084 | ) | (95,036 | ) | ||||||||
| Gross premiums earned | 338,658 | 260,567 | 689,549 | 497,928 | ||||||||||||
| Ceded premiums earned | (94,799 | ) | (65,601 | ) | (179,649 | ) | (114,854 | ) | ||||||||
| Net premiums earned | 243,859 | 194,966 | 509,900 | 383,074 | ||||||||||||
| Net investment income | 15,040 | 12,151 | 28,848 | 21,714 | ||||||||||||
| Policy fees | 2,455 | 1,971 | 3,988 | 2,920 | ||||||||||||
| Other income | 253 | 43 | 464 | 549 | ||||||||||||
| Total revenue | $ | 261,607 | $ | 209,131 | $ | 543,200 | $ | 408,257 | ||||||||
| Expenses: | ||||||||||||||||
| Losses and loss adjustment expenses incurred, net | 91,369 | 89,520 | 175,130 | 168,541 | ||||||||||||
| Policy acquisition and other underwriting expenses | 32,096 | 17,782 | 60,668 | 34,862 | ||||||||||||
| General and administrative expenses | 37,935 | 26,752 | 79,314 | 53,833 | ||||||||||||
| Interest expense | 895 | 1,307 | 1,830 | 1,587 | ||||||||||||
| Depreciation expense | 1,117 | 363 | 2,262 | 680 | ||||||||||||
| Amortization expense | 1,898 | 1,958 | 3,792 | 3,946 | ||||||||||||
| Total expenses | $ | 165,310 | $ | 137,682 | $ | 322,996 | $ | 263,449 | ||||||||
| Net income before income tax expense | 96,297 | 71,449 | 220,204 | 144,808 | ||||||||||||
| Income tax expense | 26,225 | 17,707 | 57,629 | 36,353 | ||||||||||||
| Net income | $ | 70,072 | $ | 53,742 | $ | 162,575 | $ | 108,455 | ||||||||
| Basic income earnings per share | $ | 1.05 | $ | 0.96 | $ | 2.63 | $ | 1.93 | ||||||||
| Diluted income earnings per share | $ | 0.56 | $ | 0.45 | $ | 1.30 | $ | 0.90 | ||||||||
| Slide Insurance Holdings, Inc. Condensed Consolidated Balance Sheets (Dollar amounts in thousands, except per share and par value amounts) | ||||||||
| June 30, 2025 | December 31, 2024 | |||||||
| (Unaudited) | ||||||||
| ASSETS | ||||||||
| Invested assets: | ||||||||
| Fixed-maturity securities, available-for-sale, at estimated fair value (amortized costs: | $ | 454,550 | $ | 464,966 | ||||
| Other investments, net | 4,212 | 4,548 | ||||||
| Total invested assets | $ | 458,762 | $ | 469,514 | ||||
| Cash and cash equivalents | 936,187 | 493,409 | ||||||
| Restricted cash | 648 | 631 | ||||||
| Restricted cash - variable interest entity | 478,913 | 295,802 | ||||||
| Accrued interest income | 5,786 | 5,569 | ||||||
| Assumed premiums receivable | 22,312 | 10,284 | ||||||
| Premiums receivable, net of allowance for credit loss of | 69,902 | 47,642 | ||||||
| Reinsurance recoverable on paid losses net of allowance for credit loss: | 45,243 | — | ||||||
| Reinsurance recoverable on unpaid losses net of allowance for credit loss: | 240,241 | 341,051 | ||||||
| Prepaid reinsurance premiums | 432,733 | 148,288 | ||||||
| Deferred tax assets | 15,742 | 17,371 | ||||||
| Deferred policy acquisition costs | 71,458 | 65,046 | ||||||
| Advanced payments of premium tax liability | 1,115 | — | ||||||
| Property and equipment, net | 12,812 | 13,578 | ||||||
| Right-of-use lease asset, operating | 7,701 | 8,390 | ||||||
| Intangibles, net | 3,900 | 7,692 | ||||||
| Goodwill | 2,603 | 2,603 | ||||||
| Prepaid expenses | 7,361 | 4,192 | ||||||
| Other assets | 610 | 865 | ||||||
| Total assets | $ | 2,814,029 | $ | 1,931,927 | ||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| Liabilities: | ||||||||
| Loss and loss adjustment expense reserves | $ | 571,812 | $ | 595,487 | ||||
| Unearned premiums | 720,394 | 696,310 | ||||||
| Commissions payable | 11,265 | 8,254 | ||||||
| Advanced recoveries on reinsurance | — | 4,844 | ||||||
| Deferred revenue | 90 | 90 | ||||||
| Reinsurance premiums payable | 444,554 | 70,452 | ||||||
| Long-term debt, net | 36,280 | 39,190 | ||||||
| Interest rate swap liability | 103 | 117 | ||||||
| Income taxes payable | 72,638 | 43,943 | ||||||
| Advanced premiums | 50,518 | 12,051 | ||||||
| Premium tax liabilities | — | 1,206 | ||||||
| Accounts payable and accrued expenses | 24,357 | 13,858 | ||||||
| Lease liability, operating | 8,374 | 9,063 | ||||||
| Other liabilities | 5,584 | 3,903 | ||||||
| Total liabilities | $ | 1,945,969 | $ | 1,498,768 | ||||
| Shareholders’ equity: | ||||||||
| Common Stock (par value | 1,252 | 562 | ||||||
| Preferred stock (par value | — | 514 | ||||||
| Additional paid-in capital | 389,731 | 122,607 | ||||||
| Accumulated other comprehensive income, net of taxes | 5,311 | 285 | ||||||
| Retained earnings | 471,766 | 309,191 | ||||||
| Total shareholders’ equity | $ | 868,060 | $ | 433,159 | ||||
| Total liabilities and shareholders’ equity | $ | 2,814,029 | $ | 1,931,927 | ||||
| Slide Insurance Holdings, Inc. Supplemental Information | |||||||||||||||||||||
| Three Months Ended June 30, (in thousands) | Six Months Ended June 30, (in thousands) | Year Ended December 31, 2024 (in thousands) | |||||||||||||||||||
| Revenue | 2025 | 2024 | 2025 | 2024 | 2024 | ||||||||||||||||
| Gross premiums written | $ | 435,384 | $ | 348,336 | $ | 713,633 | $ | 592,964 | $ | 1,334,864 | |||||||||||
| Policy fees | 2,455 | 1,971 | 3,988 | 2,920 | 6,550 | ||||||||||||||||
| Total revenue | $ | 261,607 | $ | 209,131 | $ | 543,200 | $ | 408,257 | $ | 864,814 | |||||||||||
| Net income | $ | 70,072 | $ | 53,742 | $ | 162,575 | $ | 108,455 | $ | 201,125 | |||||||||||
| Key Ratios | |||||||||||||||||||||
| Loss ratio | 37.4 | % | 45.9 | % | 34.3 | % | 44.0 | % | 42.8 | % | |||||||||||
| Policy acquisition expense ratio | 13.2 | % | 9.1 | % | 11.9 | % | 9.1 | % | 10.8 | % | |||||||||||
| Expense ratio | 30.0 | % | 24.0 | % | 28.6 | % | 24.3 | % | 29.5 | % | |||||||||||
| Combined ratio | 67.4 | % | 69.9 | % | 62.9 | % | 68.3 | % | 72.3 | % | |||||||||||
| Return on equity | 10.0 | % | 16.9 | % | 25.0 | % | 37.3 | % | 60.0 | % | |||||||||||
| Policies in Force | |||||||||||||||||||||
| Policies in force at beginning of period | 348,029 | 257,405 | 343,056 | 211,504 | 211,504 | ||||||||||||||||
| Citizens residential policies assumed | 14,167 | 15,985 | 26,240 | 64,585 | 135,530 | ||||||||||||||||
| Citizens commercial residential policies assumed | 44 | — | 130 | — | 444 | ||||||||||||||||
| New residential policies written | 5,603 | 16,084 | 11,376 | 23,608 | 46,397 | ||||||||||||||||
| New commercial residential policies written | 41 | — | 53 | — | — | ||||||||||||||||
| Policy renewal rate | 87.9 | % | 88.1 | % | 88.3 | % | 88.2 | % | 85.9 | % | |||||||||||
| Policies in force at end of period | 348,439 | 275,178 | 348,439 | 275,178 | 343,056 | ||||||||||||||||
| Average premium per residential policy | 3,963 | 3,991 | 3,963 | 3,991 | 3,924 | ||||||||||||||||
| Average premium per commercial residential policy | 110,575 | — | 110,575 | — | 97,240 | ||||||||||||||||
| June 30, 2025 (in thousands) | December 31, 2024 (in thousands) | ||||||||||||||||||||
| Total Assets | $ | 2,814,029 | $ | 1,931,927 | |||||||||||||||||
| Shareholders' Equity | 868,060 | 433,159 | |||||||||||||||||||
| Total common and preferred shares outstanding | 125,243 | 107,598 | |||||||||||||||||||
FAQ
What were Slide Insurance's (SLDE) Q2 2025 earnings results?
How did Slide's (SLDE) combined ratio perform in Q2 2025?
When did Slide Insurance (SLDE) complete its IPO?
What was Slide Insurance's (SLDE) policy growth in Q2 2025?
What was Slide's (SLDE) loss ratio in Q2 2025?
