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Full-stack homeowners insurtech, Slide Insurance, has completed its $1.86 billion reinsurance program for the upcoming 2024 Atlantic hurricane season, reinforcing its ability to protect homeowners across Florida and South Carolina.
According to Slide, its reinsurance program exceeds all regulatory and rating agency requirements, and protects the carrier to the 175-year return period and includes all perils coverage and third-event protection.
Bruce Lucas, Founder and Chief Executive Officer, Slide, commented, “Slide’s oversubscribed reinsurance program underscores our commitment to delivering a stable solution to the Florida market.
“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 finalized pricing for its $210 million Purple Re Ltd. (Series 2024-1) catastrophe 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).
Last year, Slide reduced its retention to $5 million, and the 2023 placement protected the firm to the 185-year return period.
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