Slide Insurance Holdings, Inc., the technology-enabled insurer, has reported a net income of $138.2 million for the third quarter of 2026, up 24.5% compared to $111.0 million in the same period last year.
Total revenue rose 35.9% to $361.1 million in Q3 2026, compared to $265.7 million in the prior-year period, with net premiums earned increasing 37.1% to $333.3 million, compared to $243.1 million in Q3 2025.
The year-over-year growth in both net premiums earned and total revenue was directly driven by earnings growth from the previous increase in voluntary homeowners and Citizens-acquired policies.
Gross premiums written reached $506.6 million, a 9.3% increase from the $463.4 million reported for Q3 2025, supported by voluntary new business, renewals of previously acquired Citizens policies and contributions from new state launches.
Losses and loss adjustment expenses (LAE) incurred, net, were $101.3 million, which included $34.2 million of catastrophe losses from convective storms in Florida in the quarter and $18.0 million of favourable prior period reserve development.
This resulted in a loss ratio of 30.4%, compared to 13.7% in the prior-year period. The accident year loss ratio, which excludes catastrophe losses and prior-period development, improved to 25.5% from 27.5% in the prior-year period.
Combined ratio for Q3 2026 was 59.3%, compared to 48.5% in Q3 2025, due primarily to catastrophe losses in the quarter, which were benign in the prior-year period, though operational leverage from rapid premium growth helped mitigate the impact on overhead expenses.
On the back of double-digit expansion, outside Florida and disciplined local underwriting, Slide raised its full-year 2026 financial targets.
The company lifted the lower end of its expected gross written premiums to a range of $1.90 billion to $1.95 billion, up from $1.85 billion to $1.95 billion.
Full-year net income guidance was bumped substantially to $500 million – $520 million from the prior $455 million – $470 million forecast, which implies a return on equity above 40%.
This updated forecast accounts for up to $50 million in pre-tax losses from fourth-quarter Hurricane Isaias.
Bruce Lucas, Chairman and Chief Executive Officer of Slide, commented: “We continued to build on our momentum in the third quarter, delivering another period of strong results and disciplined execution. We achieved another quarter of double-digit growth on our bottom line while making solid progress with writing residential E&S policies in California and expanding our homeowners solutions in South Carolina and Rhode Island. Earlier this month, we started writing residential business in Texas, further expanding our geographic footprint.
“In addition, Slide’s Board of Directors were pleased to declare a one-time special dividend of $1.50 per share, reflecting the continued strong performance of our near $2 billion book of business. We also entered into a new $1.07 billion credit facility, giving us additional flexibility to act quickly on opportunities that are accretive to shareholders. We believe our scalability and opportunity set will enable us to further execute on our diversified growth strategy and create long-term value for our shareholders.”
