Slide Insurance creates a 2023 hurricane reinsurance scheme.
Slide Insurance has concluded its reinsurance program for the 2023 hurricane season, strengthening its ability to provide protection to policyholders in Florida and South Carolina.
Slide Insueance claims that its reinsurance program meets or exceeds regulatory and rating agency criteria.
The comprehensive reinsurance tower protects the firm for 185 years, reduces retention to $5 million, and provides all hazards coverage, multi-year, and third-party protection.
Bruce Lucas, Founder, and CEO of Slide Insurance, stated,
I’d like to thank our reinsurance partners for their ongoing support.” We are overjoyed to have placed an oversubscribed reinsurance contract, especially during this difficult market cycle.”
At the beginning of the year, Slide acquired the exclusive renewal rights for over 91,400 Florida homeowners insurance policies from UPC Insurance.
At the time, the insurtech estimated that the acquired policies represented $272 million in yearly premium, bringing its total in-force premium value to $560 million.
In addition, EY named the aforementioned Bruce Lucas an EY Entrepreneur of the Year 2023 Florida Award finalist.
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