Slide
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Slide is putting faith in tort reforms and will lean into Florida, CEO Lucas said. -
The Florida homeowners’ InsurTech went public today at $17 per share.
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Slide will also expand its footprint to New York and New Jersey towards the end of the year.
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The carrier is pricing shares at the upper end of the range announced this month.
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Florida regulators have also approved takeouts for Mangrove and Slide.
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The Floridian is the third insurance company to go public in 2025.
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A week ago, this publication revealed that Slide was pressing ahead with its IPO plans with an S-1 filing.
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This publication reported earlier this year that the carrier is targeting a $250mn-$350mn raise.
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The assumption date for the combined 16,250 policies is August 19.
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Proceeds will expand the company’s reinsurance protection in Florida and South Carolina.
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There is a long waiting list of carriers looking to pull the IPO trigger, but market conditions remain tough.
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Mangrove can take out up to 81,040 polices while Slide’s limit is 15,000.
Related
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Florida HO InsurTech Slide revs up IPO work with April target
February 24, 2025 -
Daily Digest: Top news from August 2
August 02, 2024 -
Slide secures $175mn senior credit facility ahead of IPO
June 27, 2024