TAMPA, Fla.--(BUSINESS WIRE)--Slide Insurance announced today that it has successfully completed its $1.86 billion reinsurance program for the 2024 Atlantic hurricane season.
Slide’s reinsurance program, which exceeds all regulatory and rating agency requirements, protects Slide Insurance Company to the 175-year return period and includes all perils coverage and third-event protection.
“Slide’s oversubscribed reinsurance program underscores our commitment to delivering a stable solution to the Florida market," said Bruce Lucas, Founder and CEO of Slide. "We deeply appreciate our reinsurance partners' ongoing support and are excited to continue growing and supporting Florida homeowners by providing a reliable property insurance option."
Last month, Slide announced finalized pricing for its $210 million Purple Re Ltd. (Series 2024-1) catastrophe (cat) bond, expanding the company’s Florida and South Carolina named storm and hurricane reinsurance protection. Slide has earned and maintained a Demotech Financial Stability rating of “A” (Exceptional).
About Slide
Slide is a technology-enabled insurance company that makes it easy for modern consumers 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 the company was founded by Bruce and Shannon Lucas, insurance insiders with a deep understanding of how technology can be applied to achieve better underwriting outcomes. Slide launched operations in February 2022 and has quickly grown to become a leading coastal P&C insurance company.
