Founded fairly recently in 2021, Slide Insurance (SLDE) is a technology-driven property and casualty (P&C) insurance company focused on homeowners and condominium insurance, especially in high-risk, coastal markets like Florida and South Carolina. Powered by artificial intelligence (AI) and big data, Slide is vertically integrated, which the company claims allows it to be faster, more accurate, and more profitable than older, legacy insurers.
Shares were priced at $17 per share, with Slide increasing the size of the initial public offering to 24 million shares from 20 million shares. Slide is the biggest insurance listing of the year so far, as it raised $408 million through the offering. The company intends to use the proceeds as growth capital for the business, to underwrite additional policies, and for general corporate purposes.
