Slide Insurance Holdings, Inc, has announced its financial results for the third quarter of 2025, reporting a significant net income increase, to $111 million, gross premiums written growth of 33.8%, and record low combined ratio of 48.5%.
Total Revenue increased 32.8% to $265.7 million in the quarter, from $200.1 million in the prior-year period.
Slide also reported a 27.8% growth in Policies In Force, as of September 30, 2025, which increased to 351,707, compared to 275,107 as of September 30, 2024.
Bruce Lucas, Slide Founder and CEO, stated: “The third quarter of 2025 was record-breaking across all aspects of our business. We once again delivered strong year-over-year growth in policies in force and gross premiums written.
“Most importantly, our underwriting performance continued to deliver superior outcomes, driven by our differentiated underwriting technology, leading to another quarter of excellent profitability and return on equity.”
The quarter’s underwriting results were particularly strong, also setting company records. Combined ratio reached a record low of 48.5%, better than the 94.3% reported in Q3 2024.
Loss Ratio was the lowest in the company’s history at 13.7%, compared to 60.4% in the prior-year period.
Lucas attributed the exceptional underwriting performance to both benign weather conditions and the company’s operational strength.
“Our consolidated loss ratio set a quarterly low of 13.7% compared to 60.4% in the prior year period. Similarly, Slide produced a record low combined ratio of 48.5%, compared to 94.3% in the prior year period. Our loss reserves continue to develop favourably from prior year and prior quarters in 2025,” he stated.
Looking ahead, Slide’s strategy includes continued expansion and an active role in the Florida market. The company typically reserves underwriting capacity to be in an optimal position in Q4 to assume policies from Citizens, which is the insurer of last resort for Florida homeowners.
In Q2 and Q3, it deliberately preserved underwriting capacity to execute the approved fourth quarter takeout. A strategy that resulted in 60,147 policies assumed from Citizens in October 2025, which was the largest policy assumption in the Florida market.
Slide expects “additional meaningful growth from Citizens policy assumptions in November and December 2025.”
To sustain this profitable growth, Slide is focused on efficiency, lowering its expense ration through cloud-native infrastructure and automation.
The company expanded its staff by approximately 18% in Q3 to bring customer service in-house, optimise efficiency and elevate the customer experience.
Lucas also highlighted continuous enhancements to property technology in underwriting and claims, including the broader use of artificial intelligence (AI) to reduce administrative tasks and expedite processing.
The CEO concluded: “While quarterly outcomes will vary with weather and market conditions, our focus remains the same: durable underwriting profit and attractive through-cycle return on equity.
“As we scale distribution, expand into new states, and continue selective Citizens assumptions, we believe Slide is well positioned to create long-term value.”
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