Slide
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The company plans to launch in New York and New Jersey next year. -
The Insurance Insider US news team runs you through the earnings results for the day.
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Slide is putting faith in tort reforms and will lean into Florida, CEO Lucas said.
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The Florida homeowners’ InsurTech went public today at $17 per share.
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Slide will also expand its footprint to New York and New Jersey towards the end of the year.
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The carrier is pricing shares at the upper end of the range announced this month.
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Florida regulators have also approved takeouts for Mangrove and Slide.
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The Floridian is the third insurance company to go public in 2025.
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A week ago, this publication revealed that Slide was pressing ahead with its IPO plans with an S-1 filing.
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This publication reported earlier this year that the carrier is targeting a $250mn-$350mn raise.
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The assumption date for the combined 16,250 policies is August 19.
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Proceeds will expand the company’s reinsurance protection in Florida and South Carolina.
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There is a long waiting list of carriers looking to pull the IPO trigger, but market conditions remain tough.
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Mangrove can take out up to 81,040 polices while Slide’s limit is 15,000.
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Slide lined up Morgan Stanley, Barclays and JP Morgan as lead bookrunners.
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A Q3 listing remains a possibility, but the timeline can change rapidly amid storm season.
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A quick roundup of today’s need-to-know news, including CrowdStrike and Slide’s IPO.
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This publication broke news of the loan in May.
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Sources said that while a late June-early July IPO is still on the table, a Q4 or early 2025 listing is expected.
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The program includes all perils coverage and third-event protection.
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Sources said preparations for a 2024 IPO were halted, but work could resume later this year.
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Woodlands Financial Services listing is likely in Q2, but overall environment is subdued.
