Slide Insurance doubles net income with 57.6% combined ratio in Q2

Tampa-based Slide Insurance Holdings reported a 92.4% increase in net income to $134.9 million for the second quarter of 2026, driven by a strong 57.6% combined ratio. The results reflect a significant improvement in underwriting margins and a narrowing loss ratio as the company benefits from Florida's evolving legal landscape. This performance underscores the carrier's successful integration of policies from the state-backed Citizens Property Insurance Corporation and its continued expansion into new markets.

Slide Insurance Holdings posted a 57.6% combined ratio and net income of $134.9 million in the second quarter of 2026, nearly doubling the $70.1 million reported in the prior-year period. Gross premiums written grew 16.7% to $508 million, while net premiums earned rose 47.9% to $360.6 million, outpacing the rise in operating costs. This growth was largely attributed to voluntary new business and the renewal of policies previously assumed from Citizens Property Insurance Corporation, which has seen its policy count drop from 1.2 million at year-end 2022 to approximately 293,000 by June 2026.

The improvement in Slide’s loss ratio, which narrowed to 30.2% from 37.4%, aligns with a broader reduction in litigation within the Florida homeowners market. According to the Florida Office of Insurance Regulation, the state’s share of nationwide homeowners insurance lawsuits dropped from 79% in 2020 to 41% in 2025, with personal residential lawsuit filings falling 25% in 2025 alone. Net investment income also contributed to the quarter's success, rising 47.3% to $22.2 million, supported by growth in the company's fixed maturity portfolio and a return on equity of 11.7%.

Chairman and CEO Bruce Lucas stated that the results demonstrate profitable growth achieved through underwriting discipline, noting that the company is now targeting double-digit premium increases outside of Florida, specifically in South Carolina. During the quarter, Slide repurchased approximately three million shares at an average price of $17.95 and declared its first quarterly cash dividend of $0.07 per share. The company reiterated its full-year 2026 guidance, projecting gross written premiums between $1.85 billion and $1.95 billion and net income between $455 million and $470 million.