Slide Revenue Jumps 35.9% to $361.1 Million in Third Quarter
Key Facts
Slide Insurance reported a 35.9% year-over-year increase in third-quarter 2026 revenue to $361.1 million, compared with $265.7 million in the year-earlier period, according to its earnings release. The figures reflected growth in business volume, with gross written premiums rising 9.3% to $506.6 million from $463.4 million a year earlier. The company said premium growth was driven by new business, renewals and market launches. Meanwhile, the combined ratio rose to 59.3% from 48.5% in the third quarter of 2025. The company attributed the change mainly to higher catastrophe losses, partly offset by improved operating leverage.
Slide said losses and loss adjustment expenses included $34.2 million in Florida convective storm losses during the quarter. This was offset by $18.0 million of favorable prior-period reserve development. The figures put the impact of catastrophes in the context of the period's results: storm-related losses increased claims, while the review of prior reserves eased part of the burden. The company also said improved operating leverage offset some of the effect of higher catastrophe losses on the combined ratio. That ratio was 59.3%, compared with 48.5% a year earlier, according to the earnings release. The year-over-year comparison highlights improvement in revenue and premiums alongside a deterioration in this operating measure.
The company raised the floor of its fiscal 2026 gross written premium outlook to $1.90 billion, while keeping the upper end at $1.95 billion. The previous range was $1.85 billion to $1.95 billion, meaning the lower end of the forecast increased by $0.05 billion with no change to the upper end. Slide linked quarterly premium growth to new business, renewals and market launches. On geographic expansion, CEO Bruce Lucas said the company continued to expand in California, South Carolina and Rhode Island, and began writing residential business in Texas during October. The annual range update follows gross written premiums of $506.6 million in the third quarter, up 9.3% year over year.
On October 26, Slide announced it had opened the Texas and Rhode Island markets to new business as part of its geographic diversification plan. In Texas, it offered HO3 homeowners insurance, and in Rhode Island, DP3 dwelling coverage for eligible rental and seasonal properties. The company serves coastal and catastrophe-exposed markets and is headquartered in Tampa, according to its investor relations page. The company added that it has a network of more than 5,000 independent agents. The expansion into new markets coincides with the quarter's exposure to Florida convective storm losses, which totaled $34.2 million, according to the company. The quarter's results therefore show geographic expansion alongside premium growth and catastrophe-related claims costs.
On October 27, Slide entered a new credit facility with a total capacity of $1.07 billion led by Huntington National Bank, replacing a previous agreement worth $530.4 million. The company said the financing could be used for general corporate purposes, debt refinancing and growth support. The facility announcement coincided with the release of third-quarter results, but does not change the fiscal-year premium outlook range of $1.90 billion to $1.95 billion. The company's earnings call was scheduled for October 28, 2026, at 8:30 a.m. Eastern time. EL7 market data show SLDE shares closed at $29.08 on October 26; no session high or low is included, and the data predate the earnings release.