Technology-based insurance company Slide Insurance Holdings, Inc. reported net profit of $134.9 million in the second quarter of 2026, an increase of 92.4% from $70.1 million in the same period last year.
The company’s combined ratio for the quarter was 57.6%, an increase of 980 basis points from 67.4% in the same period last year, reflecting lower loss ratios and improved operating leverage.
Gross premiums were US$508.0 million, an increase of 16.7% from US$435.4 million in the same period last year. The growth was driven by growth in voluntary new business and renewals of previously purchased Citizen policies, the insurer said.
Slide also reported that net premium income increased 47.9% to $360.6 million in the second quarter of 2026, and total revenue also increased 47.9% to $386.8 million, compared with $243.9 million and $261.6 million, respectively, in the same period last year.
This growth and year-over-year growth were directly driven by revenue growth from previous increases in voluntary homeowner and citizen policy purchases.
Total revenue for the quarter increased 47.9% to $386.8 million, compared with $261.6 million in the same period last year.
Net losses and loss adjustment expense (LAE) incurred were $108.7 million, up from $91.4 million in the prior year period. The loss rate improved to 30.2% from 37.4% in the same period last year, primarily due to improvements in the overall loss experience.
Policy acquisition and other underwriting expenses were $42.3 million in the second quarter of 2026, compared to $32.1 million in the same period last year.
This increase is due to higher policy acquisition costs in 2026 due to higher assumed Citizen policy renewals in the previous year.
“Our second quarter results reflect the continued strength of our operating model and disciplined execution,” said Bruce Lucas, Chairman and Chief Executive Officer of Slide. “We delivered another quarter of profitable growth while maintaining the underwriting discipline that is critical to our success.
“The scalability of our platform and ability to capitalize on attractive opportunities positions us well to execute on our diversified growth strategy and create long-term value for our shareholders.”
