Slide Insurance Holdings posted a 57.6% combined ratio and net income of $134.9 million in the second quarter of 2026, as the Tampa-based homeowners carrier sustained the underwriting margins it posted in its first full year as a public company
Net income increased 92.4% from $70.1 million in the prior-year period, with diluted earnings per share of $1.06. Gross premiums written grew 16.7% to $508 million, and total revenue climbed 47.9% to $386.8 million. Net premiums earned rose 47.9% to $360.6 million.
The combined ratio improved 980 basis points from 67.4% in the prior-year period. The loss ratio narrowed to 30.2% from 37.4%, and the expense ratio fell to 27.4% from 30%, as net earned premium growth outpaced the rise in operating costs. Return on equity was 11.7% in the quarter.
Gross premium growth was driven by voluntary new business and renewals of previously assumed Citizens Property Insurance Corporation policies. Citizens, the state-backed insurer of last resort, shed most of its peak policy count through successive depopulation rounds. Its book fell from roughly 1.2 million policies at year-end 2022 to around 293,000 as of June 2026.
The improvement in Slide's loss ratio tracks a broader shift in Florida's homeowners market. Florida's share of nationwide homeowners insurance lawsuits dropped from 79% in 2020 to 41% in 2025, according to the Florida Office of Insurance Regulation's July 2026 Property Insurance Stability Report. Personal residential lawsuit filings fell 23% in 2024 and 25% in 2025.
Net investment income rose 47.3% to $22.2 million for the quarter, supported by growth in the fixed maturity portfolio. Losses and loss adjustment expenses were $108.7 million, compared with $91.4 million in the prior-year period.
That momentum continued from the first quarter of 2026, when Slide posted net income of $139.5 million and a combined ratio of 55.5%. The Q1 result carried no prior-year reserve development.
Bruce Lucas, chairman and chief executive officer, said the results reflected "profitable growth while maintaining the underwriting discipline that has been central to our success." Lucas said the company is targeting double-digit premium increases outside Florida for the full year, building on existing operations in South Carolina.
Slide repurchased approximately three million shares at a weighted average price of $17.95 per share during the quarter, with $114.1 million remaining under its buyback authorization. The company also declared its first quarterly cash dividend of $0.07 per share on July 27. It is payable August 28 to stockholders of record as of August 14.
Slide reiterated full-year 2026 guidance of $1.85 billion to $1.95 billion in gross written premiums. Net income guidance was $455 million to $470 million. Shareholders' equity stood at $1.19 billion and total assets grew to $3.6 billion at June 30 from $2.92 billion at December 31, 2025.
