Program exceeds regulatory and rating agency requirements
Homeowners insurtech Slide Insurance has announced that it has successfully completed its reinsurance program for the 2023 hurricane season.
The program exceeds regulatory and rating agency requirements, Slide said.
The reinsurance tower protects Slide to the 185-year return period, reduced retention to $5 million, and includes all perils coverage, multi-year and third event protection, the company said.
“I’d like to thank our reinsurance partners for their continued support,” said Bruce Lucas, founder and CEO of Slide. “We are tremendously happy to have placed an oversubscribed reinsurance program, especially during a difficult market cycle.”
In February, Slide purchased the exclusive renewal rights for more than 91,400 Florida homeowners policies from UPC, which had been running off its business.
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