Out-of-state growth: The company reported continued growth in Georgia and South Carolina, largely tied to Florida home builder agent relationships, and noted it has begun writing in North Carolina. Out-of-state policies more than doubled to 26,732 policies in force at year-end 2025, while Florida still represented 97% of in-force premium.Commercial residential product: Launched in October 2025, the product targets condominium, townhouse, and residential homeowners associations. In Q4, the company assumed 14 ...

Core Insights - Heritage Insurance reported a significant increase in profitability for Q2 2025, with GAAP earnings per share reaching $1.55, surpassing analyst estimates of $1.01, while total revenue was slightly below expectations at $208.0 million [1][2] - The company experienced a year-over-year net income increase of over 154%, reflecting strong execution in core underwriting and expense strategies despite modest revenue growth [1][5] Financial Performance - GAAP EPS for Q2 2025 was $1.55, a 154.1% increase from $0.61 in Q2 2024 [2] - Total revenue was $208.0 million, missing the estimate of $212.1 million [2] - Net income (GAAP) reached $48.0 million, up from $18.9 million in the prior year [5] - The net combined ratio improved to 72.9%, down from 92.5%, indicating better risk selection and cost management [5][7] Operational Efficiency - The net loss ratio improved to 38.5% from 55.7%, aided by less severe weather and favorable reserve developments [7] - The net expense ratio decreased from 36.8% to 34.4%, reflecting ongoing focus on rate adequacy and targeted exposure management [7] - Claims management and customer service remained priorities, with net weather losses for the period at $12.5 million, down from the previous year [8] Business Strategy - Heritage Insurance focuses on underwriting and selling property and casualty insurance, primarily in hurricane-prone regions like Florida [3] - The company emphasizes underwriting discipline and advanced data analytics to refine pricing and risk selection [4] - A robust reinsurance strategy helps mitigate exposure to catastrophic events, with a slight decrease in the ceded premium ratio [10] Market Trends - The company saw a contraction in policy count, down 11.9% compared to Q2 2024, as it focused on profitable accounts [9] - Despite the decline in policy count, premiums in force grew by 0.5%, indicating higher average policy values [9] - In commercial residential lines, gross premiums written faced competitive pressure, while personal lines showed stabilizing trends [11] Capital Management - Heritage did not pay dividends or repurchase shares in this period, focusing instead on business growth and equity enhancement [12] - Book value per share increased by 48.6% year over year, supported by net income gains and lower unrealized losses in its investment portfolio [12] Future Outlook - Management anticipates more earned rate to run through the portfolio in 2025 than in any prior year, with gradual growth in policies expected in the second half of 2025 [13] - Gross written premium is expected to reaccelerate in the latter half of 2025 as agency capacity reopens [13]

Table of Contents As filed with the Securities and Exchange Commission on May 23, 2025. Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 SLIDE INSURANCE HOLDINGS, INC. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Organization) Delaware 7372 871554861 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification Num ...

Financial Data and Key Metrics Changes - The company reported a net income of $30,500,000 or $0.99 per diluted share for Q1 2025, compared to $14,200,000 or $0.47 per diluted share in Q1 2024, reflecting a significant increase in profitability despite $31,800,000 in losses related to California wildfires [5][14] - Gross premiums earned rose to $353,800,000, up 3.6% from $341,400,000 in the prior year quarter, driven by business growth and rating actions [15] - Net premiums earned increased to $200,000,000, up 11.5% from $179,400,000 in the prior year quarter, reflecting growth in gross premiums earned and a reduction in ceded premiums [16] - The loss ratio improved to 49.7%, down from 56.9% in the same quarter last year, indicating better underwriting performance [17] - The net combined ratio for the quarter was 84.5%, down 9.5 points from 94% in the prior year quarter, driven by lower net loss and expense ratios [19] Business Line Data and Key Metrics Changes - The policy count decreased by 3% from Q4 2024, primarily due to normal attrition and seasonality, but was partially offset by new personal lines business production [6][8] - The company is selectively writing new personal lines business while maintaining a focus on risk management and stringent underwriting [10] Market Data and Key Metrics Changes - The company has achieved rate adequacy in over 90% of its operating regions, positioning it to grow personal lines policies in force [6] - The competitive landscape in the commercial residential market is intensifying, but the company remains committed to ensuring rate adequacy [8] Company Strategy and Development Direction - The company is pivoting its strategy towards managed growth, with plans to open more territories for new personal lines business [9] - Legislative changes in Florida are expected to positively impact the economics of writing new business and reduce frivolous lawsuits [10][11] - The company is focusing on enhancing its E and S business to adapt to changing market dynamics and provide necessary insurance protection [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to maintain profitability despite catastrophe losses, attributing this to strategic initiatives implemented over several years [6][14] - The company anticipates an increase in premiums in force in the second half of the year as it continues to open production capacity [9] - Management expects growth to accelerate in 2026 as new business production ramps up and the impact of exposure management initiatives diminishes [10] Other Important Information - The company ended the quarter with total assets of $2,200,000,000 and shareholders' equity of $329,000,000, with book value per share increasing to $10.62 [20] - The average duration of the fixed income core portfolio was 3.1 years, reflecting a strategy to take advantage of higher yields [20] Q&A Session Summary Question: Guidance on ceded premium dollars for Q2 and Q3 - Management indicated that ceded premium dollars are expected to be slightly up for the remainder of the year, but not significantly [23][24][25] Question: Outlook on rates over the next two years - Management stated that they will maintain rate adequacy and adjust rates as necessary, with a focus on maintaining margins [26][28] Question: Competition in personal lines and new distribution - Management noted that they are gradually reopening with existing agents and are prepared to compete with new entrants in the market [29][30] Question: Sustainability of underlying loss levels - Management expressed confidence that current loss trends are favorable and sustainable barring major storms [31][32] Question: Competitive environment by state - Management highlighted differences in competitive dynamics across states, with Florida experiencing new entrants while California presents opportunities due to admitted carriers leaving [47][48]

Financial Data and Key Metrics Changes - The company reported a net income of $30,500,000 or $0.99 per diluted share for Q1 2025, compared to $14,200,000 or $0.47 per diluted share in the same quarter last year, reflecting a significant increase in profitability despite $31,800,000 in losses related to California wildfires [5][14] - Gross premiums earned rose to $353,800,000, up 3.6% from $341,400,000 in the prior year quarter, driven by higher gross premiums written [15] - Net premiums earned increased to $200,000,000, up 11.5% from $179,400,000 in the prior year quarter, reflecting growth in gross premiums earned and a reduction in ceded premiums [15] - The loss ratio improved to 49.7%, down from 56.9% in the same quarter last year, indicating better underwriting performance [17] - The net combined ratio for the quarter was 84.5%, down 9.5 points from 94% in the prior year quarter, driven by lower net loss and expense ratios [19] Business Line Data and Key Metrics Changes - The policy count decreased by 3% from Q4 2024, primarily due to normal attrition and seasonality, although there was early ramp-up in new personal lines business production [6] - The company is selectively writing new personal lines business while maintaining a focus on risk management and stringent underwriting [10] Market Data and Key Metrics Changes - The company has achieved rate adequacy in over 90% of its operating regions, positioning it to grow personal lines policies in force [6] - The competitive landscape in the commercial residential market is intensifying, but the company remains committed to ensuring rate adequacy without sacrificing profitability [7] Company Strategy and Development Direction - The company is pivoting its strategy towards managed growth by opening new territories for personal lines business, with nearly 75% of production capacity open as of April 2025 [9][10] - Legislative changes in Florida are expected to positively impact the economics of writing new profitable business, potentially reducing reinsurance pricing in 2026 [10][11] - The company is focusing on enhancing rate adequacy, managing exposure, and investing in technology and infrastructure to drive long-term shareholder value [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining profitability despite catastrophe losses, attributing this to strategic initiatives implemented over the years [6][14] - The company anticipates an increase in premiums in force in the second half of the year, with expectations for growth to accelerate in 2026 as new business production ramps up [8][10] - Management noted that favorable legislative impacts are contributing to improved loss trends, which are expected to remain stable [31] Other Important Information - The company ended the quarter with total assets of $2,200,000,000 and shareholders' equity of $329,000,000, with book value per share increasing to $10.62 [20] Q&A Session Summary Question: Guidance on ceded premium dollars for Q2 and Q3 - Management indicated that ceded premium dollars are expected to increase slightly for the remainder of the year, but not significantly [23][25] Question: Outlook on rates over the next few years - Management stated that they are focused on maintaining rate adequacy and will adjust rates as necessary based on the regulatory environment [26] Question: Competition in personal lines and new distribution - Management clarified that they are gradually reopening existing distribution channels and are prepared to compete with new entrants in the market [29] Question: Understanding the dynamics of PIFs and premiums in Florida - Management explained that the decrease in premiums is due to less substantial rate increases and increased competition in the commercial markets [36][37] Question: Competitive environment by state - Management noted that Florida is seeing new entrants, while other states remain stable, with California experiencing more opportunities due to admitted carriers leaving the state [44][46]