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Slide Insurance boosts profit as combined ratio improves in Q2
Florida homeowners carrier Slide reports net income up 92.4% to $70.1 million year over year, as its loss ratio tightens to 30.2% from 37.4%.
Slide Insurance said its Q2 results showed a sharp earnings jump alongside underwriting improvement, with net income rising 92.4% from the prior-year period to $70.1 million. Diluted earnings per share came in at $1.06, and the company also reported return on equity of 11.7% for the quarter.
The insurer attributed the operating progress to a better combined ratio. Slide’s combined ratio improved by 980 basis points to 57.6%, driven by a loss ratio that narrowed to 30.2% from 37.4%, and an expense ratio that fell to 27.4% from 30.0%, as premium growth outpaced operating costs.
Gross premiums written increased 16.7% to $508 million, while total revenue climbed 47.9% to $386.8 million. Net premiums earned rose 47.9% to $360.6 million, and Slide reported net investment income up 47.3% to $22.2 million, supported by growth in its fixed maturity portfolio.
Slide’s gross growth was linked to voluntary new business and renewals tied to previously assumed Citizens Property Insurance Corporation policies. Separately, it said Citizens has reduced its peak policy count, with Slide noting its book falling from about 1.2 million policies at year end 2022 to roughly 293,000 as of June 2026. The company also repurchased about three million shares at a weighted average price of $17.95, with $114.1 million remaining under authorization, and declared its first quarterly cash dividend of $0.07 per share, payable August 28 to shareholders of record as of August 14.