Insurance tech firm Slide is targeting a valuation of up to $2.12 billion through its U.S. initial public offering, joining a wave of insurance companies that have recently seen strong debuts on the stock market.
The company’s IPO roadshow comes on the heels of impressive listings from eToro and Circle, signaling a renewed investor interest in public offerings after months of stagnation due to U.S. policy uncertainty.
According to a filing made on Monday, Slide and certain existing shareholders plan to raise up to $340 million by offering 20 million shares, priced in the range of $15 to $17 each.
Analysts note that insurers tend to be more resilient during market downturns, as increased uncertainty often drives greater demand for risk-mitigation products. Additionally, sectors centered around intellectual property continue to capture investor interest.
Apollo-backed Aspen Insurance and Florida-based American Integrity Insurance recently completed their IPOs, while specialty insurer Ategrity plans to go public later this week.
Founded in 2021, Slide provides insurance products for families and condominiums in Florida and South Carolina. The company is led by Bruce Lucas, the former founder and CEO of Heritage Insurance.
Regulatory filings reveal that 99.5% of Slide’s policies are currently based in Florida, a state where the company plans to expand its presence—despite other insurers retreating from the region due to its vulnerability to natural disasters, particularly hurricanes.
Slide reported a 69.1% surge in profit, reaching $92.5 million for the quarter ended March 31. Its combined ratio improved to 58.9%, down from 66.7% a year earlier—indicating strong underwriting performance, as a ratio below 100% means the insurer collected more in premiums than it paid out in claims.
Barclays and Morgan Stanley are acting as the lead underwriters for the IPO.
Slide’s shares are expected to debut on the Nasdaq under the ticker symbol “SLDE.”
