Slide renews $5.463bn of total aggregate reinsurance limit; first-event capacity hits $3.98bn

Slide Insurance Holdings, Inc. has completed its Catastrophe Excess of Loss Reinsurance Program for the 2026-2027 treaty year, securing a meaningful $5.463 billion of total aggregate reinsurance limit, representing a 65% increase from last year’s $3.304 billion.

Slide Insurance Company has been experiencing rapid business expansion, which necessitates a growing amount of reinsurance limits due to its focus on property exposures and its presence in regions vulnerable to catastrophes.

Crucially, Slide also confirmed its first-event catastrophe reinsurance limit has expanded to $3.981 billion for 2026-2027, a $1.424 billion increase from the $2.557 billion secured in 2025-2026.

This first-event placement significantly outpaces the company’s original projections. During Slide’s Q1 earnings call in May, CEO Bruce Lucas forecasted a first-event limit of roughly $3.5 billion (a $1 billion year-over-year increase).

However, ultimate execution yielded an additional $481 million in capacity beyond those initial expectations.

Slide also noted that first-event retention remain conservatively positioned at no more than 25% of estimated pre-tax earnings. While maximum retentions are set at $166.8 million on a first-event basis (a 1-in-100 year PML) and $150.0 million on a second-event basis (a 1-in-50 year PML).

Bruce Lucas, Chairman and Chief Executive Officer of Slide, commented: “I am pleased to announce the completion of our 2026-2027 catastrophe reinsurance program. This renewal represents one of the strongest towers in Slide’s history. We secured meaningful improvements in both rate and terms while significantly expanding our total capacity.”

As part of its multi-state expansion, Slide has leaned heavily into the insurance-linked securities (ILS) market to diversify its capital. The insurer added 12 new markets to its program this year and expanded its Purple Re catastrophe bond limit to $780 million of multi-year coverage, up from $660 million.

As we previously reported, Slide secured its largest catastrophe bond sponsorship to date in February with the $320 million Purple Re Ltd. (Series 2026-1) issuance, At the time, Lucas noted the pricing came in down more than 20% year-on-year on a risk-adjusted basis.

While $200 million of limit from Slide’s Slide’s Purple Re Ltd. (Series 2023-1) and Purple Re Ltd. (Series 2023-2) cat bonds was scheduled to mature ahead of the 2026 hurricane season, the latest issuance ensured that Slide entered the wind season with at least $780 million of  cat bond supported hurricane protection.

The scale of Slide’s reinsurance buying highlights the carrier’s growth trajectory.

For context, Slide’s 2024 reinsurance tower extended to just a $1.86 billion first-event limit. While the exact 2025 tower details were not traditionally disclosed due to the timing of the insurer’s IPO, estimates placed it around $2.5 billion.

“The continued support from our reinsurance partners, combined with the positive effects of Florida’s 2022 legislative reforms, underscores the strength of our underwriting discipline and risk management strategy,” Lucas added.

Concluding: “This program further strengthens Slide’s financial resilience and positions us to confidently support our policyholders through Florida’s peak hurricane season.”

Read all of our reinsurance renewal news coverage.