Full-stack homeowners insuretech Slide Insurance has completed its reinsurance program for the 2023 hurricane season, bolstering its ability to protect policyholders across Florida and South Carolina.
According to Slide, its reinsurance program exceeds regulatory and rating agency requirements.
The comprehensive reinsurance tower protects the firm to the 185-year return period, reduces retention to $5 million, and includes all perils coverage, multi-year and third event protection.
Bruce Lucas, Founder and CEO of Slide, commented, “I’d like to thank our reinsurance partners for their continued support.
“We are tremendously happy to have placed an oversubscribed reinsurance program, especially during a difficult market cycle.”
In February, Slide acquired the exclusive renewal rights for over 91,400 Florida homeowners insurance policies from UPC Insurance.
At the time, the insurtech suggested that the acquired policies represent $272 million in annual premium, bringing its total in-force premium value to $560 million.
Slide is recognised as a 2023 Tampa Bay Business Journal Best Place to Work and was also recently awarded a Tampa Bay Inno Fire Award for being one of the leading startup tech companies in the region.
Additionally, EY recently recognised the aforementioned Bruce Lucas as an EY Entrepreneur of the Year 2023 Florida Award finalist.