Slide Places Reinsurance Program Ahead of Hurricane Season
Slide Places Reinsurance Program Ahead of Hurricane Season
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.
Bruce Lucas, Founder & CEO“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 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).