Slide Insurance Q2 net income nearly doubles on premium growth

Slide Insurance Holdings

28/07/2026 21:32

Overview
US homeowners insurer's Q2 gross premiums written rose 16.7% yr/yr, revenue up 47.9%
Net income for Q2 nearly doubled yr/yr, with combined ratio improving to 57.6%
Company repurchased nearly 3 mln shares and declared initial quarterly dividend

Outlook
Slide Insurance expects 2026 gross written premiums between $1.85 bln and $1.95 bln
Company sees 2026 net income in the range of $455 mln to $470 mln
Top-line growth expected from sustained organic expansion, especially outside Florida

Result Drivers
PREMIUM GROWTH - Co said gross premiums written rose due to growth in voluntary new business and renewals of previously acquired Citizens policies
IMPROVED LOSS EXPERIENCE - Co attributed lower loss ratio and improved combined ratio to better overall loss experience
OPERATING LEVERAGE - Co said combined ratio improvement was helped by scaling impact in net earned premium growth with more moderate operating expense growth

Company press release: ID:nGNXvLlgS

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Net Income
 
$134.9 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the property & casualty insurance peer group is "buy"
Wall Street's median 12-month price target for Slide Insurance Holdings Inc is $24.50, about 17.5% above its July 27 closing price of $20.85

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)