Slide Places Reinsurance Program Ahead of Hurricane Season
May 22 2024 - 9:00AM
Business Wire
Program reinforces ability to protect
homeowners across Florida and South Carolina
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240522910030/en/
Rachel Carr Chief Marketing Officer, Slide Insurance
press@slideinsurance.com