Slide Insurance, a Florida-based insurer specialising in coastal property and casualty (P&C) insurance, has filed for an initial public offering (IPO) with the US Securities and Exchange Commission (SEC).
The company applied to list its common stock on the Nasdaq stock exchange under the symbol SLDE.
The company, launched in 2021, is a technology-enabled insurer focusing on underwriting single-family and condominium policies in coastal states along the Atlantic seaboard.
The company’s business model includes acquiring policies through block acquisitions and renewals, as well as generating new business through independent agents and a direct-to-consumer channel.
This approach allows Slide Insurance to sell its products directly to consumers, bypassing other intermediaries, the company said in the filing.
The IPO is intended to raise capital that will enable Slide to underwrite additional policies, support the company’s growth and meet general corporate needs.
Barclays Capital and Morgan Stanley are the representatives of the underwriters and joint book-running managers for the offering.
Davis Polk & Wardwell has been providing legal counsel for the issuance of the shares of common stock.
The underwriters are represented by Skadden, Arps, Slate, Meagher & Flom.
In the first quarter of 2025 (Q1 2025), Slide Insurance reported net income of $92.5m, an increase from $54.7m in the same quarter of the previous year.
The company’s total revenue for the quarter rose to $281.5m, up from $199.1m in Q1 2024.
Gross premiums written reached $278.2m in Q1 2025, compared with $244.6m in the prior year.
“Slide Insurance files for IPO with US SEC ” was originally created and published by Life Insurance International, a GlobalData owned brand.
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