Slide Reports Second Quarter 2025 Results

Core Insights - Slide Insurance Holdings, Inc. reported a strong second quarter for 2025, achieving significant year-over-year growth across key financial metrics, including gross premiums written, net income, and combined ratio [1][3][9]. Financial Performance - Gross premiums written increased by 25.0% year-over-year to $435.4 million, up from $348.3 million in the prior-year period, driven by the acquisition of additional policies and consistent renewal rates [4][9]. - Net income grew by 30.5% year-over-year to $70.1 million, compared to $53.7 million in the prior-year period, with diluted earnings per share at $0.56 [1][11][9]. - Total revenue rose by 25.1% to $261.6 million, compared to $209.1 million in the prior-year period, primarily due to increased net premiums earned [6][9]. Underwriting and Loss Ratios - The combined ratio improved by 250 basis points year-over-year to 67.4%, compared to 69.9% in the prior-year period, indicating better underwriting performance [1][10][9]. - The loss ratio improved by 850 basis points to 37.4%, down from 45.9% in the prior-year period, reflecting effective management of losses and expenses [7][9]. Operational Metrics - Policies in force as of June 30, 2025, totaled 348,439, an increase from 275,178 as of June 30, 2024, indicating strong growth in policy renewals and acquisitions [5][26]. - Policy acquisition and other underwriting expenses increased to $32.1 million from $17.8 million in the prior-year period, attributed to a higher number of policies in force [8][10]. Capital and Shareholder Value - The company completed its initial public offering in June 2025, which contributed to the growth in equity and overall financial strength [1][3]. - Return on equity for the quarter was 10.0%, down from 16.9% in the prior-year period, influenced by the increase in equity due to retained earnings and IPO proceeds [11][9]. Technology and Strategy - The company leverages advanced underwriting technology and a well-capitalized balance sheet to enhance its growth strategy and create long-term shareholder value [3][18].