Technology-based insurance company Slide Insurance Holdings, Inc. reported net profit of $139.5 million in the first quarter of 2026, an increase of 50.8% from $92.5 million in the same period a year earlier.
Gross written premiums increased 49.1% to $414.8 million in 1Q26 compared to $278.2 million in 1Q25, driven by growth in voluntary new business, renewals of previously acquired Citizens policies and further Citizens acquisitions.
Net premium income increased 37.5% from US$266 million to US$365.9 million.
Total revenue reached US$389.3 million, an increase of 38.2% from US$281.6 million in the same period last year.
The combined ratio improved to 55.5% from 58.9%, primarily due to the wider impact of lower catastrophe losses and higher net premiums earned, along with more modest operating expense growth and lower amortization expenses due to the full amortization of intangible assets at the end of 2025.
Net losses and loss adjustment expense (LAE) incurred were $111 million, up from $83.8 million in the prior year period. The loss ratio improved from 31.5% to 30.4%, reflecting lower catastrophe losses.
As of March 31, 2026, the total number of policies in force was 508,928, compared with 348,029 as of March 31, 2025, a year-on-year increase of 46%.
“Our first-quarter results reflect strong execution across our business and enhanced capabilities in our operating model,” said Bruce Lucas, Slide’s chairman and chief executive officer.
“We continue to deliver strong growth while maintaining our commitment to disciplined underwriting and operational excellence. Our continued technology investments position us to take advantage of additional expansion opportunities throughout the remainder of the year. In 2026, we remain committed to our long-term diversified growth strategy and remain confident in achieving our full-year targets while creating sustainable value for shareholders.”
