- Gross Premiums Written Grew 16.7% Year-over-Year to $508.0 Million -
- Net Income Increased 92.4% Year-over-Year to $134.9 Million; $1.06 Diluted Earnings Per Share -
- Combined Ratio Improved to 57.6% -
TAMPA, Fla., July 28, 2026 (GLOBE NEWSWIRE) -- Slide Insurance Holdings, Inc. (Nasdaq: SLDE) today reported results for the second quarter ended June 30, 2026.
- Gross premiums written grew 16.7% to $508.0 million, compared to $435.4 million in the prior-year period.
- Total revenue increased 47.9% to $386.8 million, compared to $261.6 million in the prior-year period.
- Net income increased 92.4% to $134.9 million, compared to $70.1 million in the prior-year period. Diluted earnings per share for the second quarter of 2026 was $1.06.
- Combined ratio of 57.6% improved 980 basis points, compared to 67.4% in the prior-year period, reflecting lower loss ratio and improved operating leverage.
- Average return on equity in the quarter was 11.7%.
“Our second quarter results reflect the continued strength of our operating model and disciplined execution,” said Bruce Lucas, Chairman and Chief Executive Officer of Slide. “We delivered another quarter of profitable growth while maintaining the underwriting discipline that has been central to our success. The scalability of our platform and our ability to capitalize on attractive opportunities position us well to execute our diversified growth strategy and create long-term value for our shareholders.”
Second Quarter 2026 Operating Results
Gross premiums written were $508.0 million, a 16.7% increase compared to $435.4 million in the prior-year period, driven by growth of voluntary new business and renewals of previously acquired Citizens policies.
Net premiums earned grew 47.9% to $360.6 million, compared to $243.9 million in the prior-year period, while total revenue of $386.8 million increased 47.9% compared to $261.6 million in the prior-year period. The increase and year-over-year growth were directly driven by earnings growth from previous increase in voluntary homeowners and Citizens acquired policies.
Losses and loss adjustment expenses (LAE) incurred, net were $108.7 million, compared to $91.4 million in the prior-year period. Loss ratio improved to 30.2%, compared to 37.4% in the prior-year period, primarily due to an improvement in overall loss experience.
Policy acquisition and other underwriting expenses were $42.3 million, compared to $32.1 million in the prior-year period. The increase was driven by increased renewal policies from prior year assumed Citizens' policies, resulting in increased policy acquisition costs in 2026.
General and administrative expenses were $55.0 million, compared to $37.9 million in the prior-year period, due primarily to the increased staffing costs and technology to support the Company’s strategic growth initiatives.
The combined ratio improved to 57.6%, compared to 67.4% in the prior-year period, due primarily to improved loss experience and scaling impact in net earned premium growth with more moderate operating expense growth.
Net income grew 92.4% to $134.9 million, compared to $70.1 million in the prior-year period. Diluted earnings per share for the second quarter of 2026 was $1.06 and return on equity was 11.7% in the quarter.
Capital Allocation
During the quarter, the company repurchased 2,997,980 shares of its common stock at a weighted average price of $17.95 per share. There remains $114.1 million of availability under the Company’s stock repurchase program.
In addition, on July 27, 2026, the Company announced that it has declared an initial quarterly cash dividend of $0.07 per share on the Company’s issued and outstanding shares of common stock. The initial quarterly dividend will be payable on August 28, 2026, to stockholders of record as of August 14, 2026.
Full Year 2026 Outlook
The Company reiterated its expectations to generate gross written premiums in the range of $1.85 billion to $1.95 billion.
Top-line growth is expected to be driven primarily by sustained organic expansion, including double-digit increases outside of Florida, complemented by selective growth opportunities within Florida that meet the Company’s return threshold.
The Company also reiterated its expectations to generate full year net income in the range of $455 million to $470 million.
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, expressed as a percentage, is the ratio 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 100% indicates an underwriting profit. A combined ratio over 100% indicates an underwriting loss.
Return on equity, represents net income as a percentage of average beginning and ending shareholders’ equity during the period.
Webcast and Conference Call
Slide will hold a conference call to discuss financial results tomorrow, July 29, 2026, at 8:30 am 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, including its full year 2026 outlook with respect to gross written premiums and net income, (ii) ability to execute its 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, (vii) 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 such statement 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, Fla., 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) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Revenues: | ||||||||||||||||
| Gross premiums written | $ | 508,014 | $ | 435,384 | $ | 922,806 | $ | 713,633 | ||||||||
| Change in unearned premiums | (21,917 | ) | (96,726 | ) | 44,277 | (24,084 | ) | |||||||||
| Gross premiums earned | 486,097 | 338,658 | 967,083 | 689,549 | ||||||||||||
| Ceded premiums earned | (125,462 | ) | (94,799 | ) | (240,565 | ) | (179,649 | ) | ||||||||
| Net premiums earned | 360,635 | 243,859 | 726,518 | 509,900 | ||||||||||||
| Net investment income | 22,152 | 15,040 | 42,270 | 28,848 | ||||||||||||
| Policy fees | 3,382 | 2,455 | 5,972 | 3,988 | ||||||||||||
| Other income | 648 | 253 | 1,340 | 464 | ||||||||||||
| Total revenue | $ | 386,817 | $ | 261,607 | $ | 776,100 | $ | 543,200 | ||||||||
| Expenses: | ||||||||||||||||
| Losses and loss adjustment expenses incurred, net | 108,740 | 91,369 | 219,813 | 175,130 | ||||||||||||
| Policy acquisition and other underwriting expenses | 42,280 | 32,096 | 86,405 | 60,668 | ||||||||||||
| General and administrative expenses | 55,028 | 37,935 | 101,201 | 79,314 | ||||||||||||
| Interest expense | 924 | 895 | 1,776 | 1,830 | ||||||||||||
| Depreciation expense | 1,354 | 1,117 | 2,669 | 2,262 | ||||||||||||
| Amortization expense | 30 | 1,898 | 99 | 3,792 | ||||||||||||
| Total expenses | $ | 208,356 | $ | 165,310 | $ | 411,963 | $ | 322,996 | ||||||||
| Net income before income tax expense | 178,461 | 96,297 | 364,137 | 220,204 | ||||||||||||
| Income tax expense | 43,611 | 26,225 | 89,760 | 57,629 | ||||||||||||
| Net income | $ | 134,850 | $ | 70,072 | $ | 274,377 | $ | 162,575 | ||||||||
| Weighted average shares outstanding (in thousands) | ||||||||||||||||
| Basic | 115,408 | 66,773 | 119,353 | 61,715 | ||||||||||||
| Diluted | 127,311 | 125,979 | 131,944 | 124,792 | ||||||||||||
| Earnings per share | ||||||||||||||||
| Basic | $ | 1.17 | $ | 1.05 | $ | 2.30 | $ | 2.63 | ||||||||
| Diluted | $ | 1.06 | $ | 0.56 | $ | 2.08 | $ | 1.30 | ||||||||
| Slide Insurance Holdings, Inc. Condensed Consolidated Balance Sheets (Dollar amounts in thousands, except per share and par value amounts) | ||||||||
| June 30, 2026 | December 31, 2025 | |||||||
| (Unaudited) | ||||||||
| ASSETS | ||||||||
| Invested assets: | ||||||||
| Fixed-maturity securities, available-for-sale, at estimated fair value (amortized costs: $834,274 and $580,122, respectively and allowance for credit losses: $0 and $0 respectively) | $ | 832,081 | $ | 589,720 | ||||
| Other investments, net | 7,000 | 4,000 | ||||||
| Total invested assets | $ | 839,081 | $ | 593,720 | ||||
| Cash and cash equivalents | 1,236,915 | 1,201,210 | ||||||
| Restricted cash and cash equivalents | 793 | 786 | ||||||
| Restricted cash and cash equivalents - variable interest entity | 583,446 | 480,972 | ||||||
| Accrued interest income | 10,409 | 7,281 | ||||||
| Assumed premiums receivable | 9,377 | 34,290 | ||||||
| Premiums receivable, net of allowance for credit loss of $8,390 and $3,294, respectively | 66,404 | 90,576 | ||||||
| Reinsurance recoverable on paid losses, net of allowance for credit loss: $0 and $0, respectively | 19,784 | 16,183 | ||||||
| Reinsurance recoverable on unpaid losses, net of allowance for credit loss: $0 and $0, respectively | 115,205 | 146,128 | ||||||
| Prepaid reinsurance premiums | 563,616 | 202,748 | ||||||
| Deferred income tax assets, net | 22,406 | 18,332 | ||||||
| Deferred policy acquisition costs | 100,687 | 93,728 | ||||||
| Property and equipment, net | 10,010 | 11,585 | ||||||
| Right-of-use lease assets, operating | 7,625 | 8,476 | ||||||
| Intangibles, net | — | 99 | ||||||
| Goodwill | 2,603 | 2,603 | ||||||
| Prepaid expenses | 9,904 | 8,932 | ||||||
| Other assets | 845 | 816 | ||||||
| Total assets | $ | 3,599,110 | $ | 2,918,465 | ||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| Liabilities: | ||||||||
| Loss and loss adjustment expense reserves | $ | 501,020 | $ | 439,715 | ||||
| Unearned premiums | 956,331 | 1,000,611 | ||||||
| Commissions payable | 15,197 | 9,049 | ||||||
| Deferred revenue | 90 | 90 | ||||||
| Reinsurance premiums payable | 620,336 | 160,330 | ||||||
| Long-term debt, net | 29,703 | 33,687 | ||||||
| Interest rate swap liability | — | 62 | ||||||
| Income taxes payable | 150,881 | 93,555 | ||||||
| Advanced premiums | 68,822 | 30,518 | ||||||
| Premium tax liabilities | 15,820 | 5,075 | ||||||
| Accounts payable and accrued expenses | 27,703 | 19,768 | ||||||
| Lease liabilities, operating | 8,947 | 9,649 | ||||||
| Other liabilities | 9,442 | 3,115 | ||||||
| Total liabilities | $ | 2,404,292 | $ | 1,805,224 | ||||
| Shareholders’ equity: | ||||||||
| Common Stock (par value $0.01, 1,500,000,000 shares authorized, 115,568,131 and 123,889,446 issued and outstanding at June 30, 2026 and December 31, 2025, respectively) | 1,156 | 1,239 | ||||||
| Additional paid-in capital | 167,771 | 351,688 | ||||||
| Accumulated other comprehensive income, net of taxes | (1,635 | ) | 7,165 | |||||
| Retained earnings | 1,027,526 | 753,149 | ||||||
| Total shareholders’ equity | $ | 1,194,818 | $ | 1,113,241 | ||||
| Total liabilities and shareholders’ equity | $ | 3,599,110 | $ | 2,918,465 | ||||
| Slide Insurance Holdings, Inc. Supplemental Information | ||||||||||||||||||||
| Three Months Ended June 30, (in thousands) | Six Months Ended June 30, (in thousands) | Year Ended December 31, 2025 (in thousands) | ||||||||||||||||||
| Revenue | 2026 | 2025 | 2026 | 2025 | 2025 | |||||||||||||||
| Gross premiums written | $ | 508,014 | $ | 435,384 | $ | 922,806 | $ | 713,633 | $ | 1,795,516 | ||||||||||
| Policy fees | 3,382 | 2,455 | 5,972 | 3,988 | 8,243 | |||||||||||||||
| Total revenue | $ | 386,817 | $ | 261,607 | $ | 776,100 | $ | 543,200 | $ | 1,155,901 | ||||||||||
| Net income | $ | 134,850 | $ | 70,072 | $ | 274,377 | $ | 162,575 | $ | 443,958 | ||||||||||
| Key Ratios | ||||||||||||||||||||
| Loss ratio | 30.2 | % | 37.4 | % | 30.3 | % | 34.3 | % | 21.8 | % | ||||||||||
| Policy acquisition expense ratio | 11.7 | % | 13.2 | % | 11.9 | % | 11.9 | % | 12.9 | % | ||||||||||
| Expense ratio | 27.4 | % | 30.0 | % | 26.2 | % | 28.6 | % | 30.3 | % | ||||||||||
| Combined ratio | 57.6 | % | 67.4 | % | 56.5 | % | 62.9 | % | 52.1 | % | ||||||||||
| Return on equity | 11.7 | % | 10.0 | % | 23.8 | % | 25.0 | % | 57.4 | % | ||||||||||
| June 30, 2026 (in thousands) | December 31, 2025 (in thousands) | |||||||||||||||||||
| Total Assets | $ | 3,599,110 | $ | 2,918,465 | ||||||||||||||||
| Shareholders' Equity | 1,194,818 | 1,113,241 | ||||||||||||||||||
| Total common shares outstanding | 115,568 | 123,889 | ||||||||||||||||||
