Slide Secures $250 Million Cat Bond with Closing of Purple Re Ltd. 2025-1

- Completes Fourth and Largest Cat Bond Offering to Date -

- Proceeds to be Used to Further Expand Slide’s Named Storm and Hurricane Reinsurance Protection -

Slide Insurance today announced it has finalized pricing for its $250 million Purple Re Ltd. (Series 2025-1) catastrophe (cat) bond.

This was the fourth and largest cat bond offering sponsored by Slide to date, exceeding the previous largest offering by $40 million. The Series 2025-1 cat bond was offered in two separate fully collateralized classes of $125 million, with the Class A notes priced at 7.25% and the Class B notes priced at 7.75%, both within the lower halves of their respective initial spread guidance.

Proceeds will be used to further expand Slide’s named storm and hurricane reinsurance protection in Florida and South Carolina.

“We are very pleased to complete our latest and largest cat bond offering, which further reinforces and ensures that our policyholders are fully protected in their time of need,” said Bruce Lucas, Founder and Chief Executive Officer of Slide Insurance. “Securing cat bonds over the past couple of years and building our reinsurance tower has proven to be a prudent source of multi-year reinsurance protection for Slide. With the successful completion of this offering, Slide has placed $660 million of our reinsurance program in the ILS market.”

The reinsurance protection from the Purple Re 2025-1 cat bond will be provided within Florida and South Carolina on an indemnity and per occurrence basis, over a three-year term from June 1, 2025 through May 31, 2028.

About Slide

Slide is a technology-enabled insurance company that makes it easy for homeowners to choose the right coverage for their unique needs and budgets. Slide's cutting-edge technology leverages artificial intelligence and big data to optimize and streamline every part of the insurance process. Based in Tampa, FL the company was founded by Bruce and Shannon Lucas, insurance insiders with a deep understanding of how technology can be applied to achieve better underwriting outcomes. Slide launched operations in February 2022 and has quickly grown to become a leading coastal P&C insurance company. For more information, please visit www.slideinsurance.com.

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