Purple Re Ltd. Series 2024-1

Slide Insurance Company, the full-stack property insurtech company founded by Bruce Lucas in Florida, has successfully placed a $1.86 billion catastrophe reinsurance tower for 2024, of which some $410 million in collateralized reinsurance for the higher layers comes from the cat bond market, sourced by its three Purple Re issues.

Slide Insurance Company, the full-stack property insurtech company founded by Bruce Lucas in Florida, now counts roughly 70% of its reinsurance as being on a multi-year basis, thanks to the completion in recent days of its largest and $210 million Purple Re Ltd. (Series 2024-1) catastrophe bond transaction.

Full-stack homeowners property insurtech Slide has now successfully priced its latest catastrophe bond, securing the 40% upsized target so that the new Purple Re Ltd. (Series 2024-1) transaction will provide the company with $210 million of named storm reinsurance.

Full-stack homeowners property insurtech Slide is now targeting a 40% increase in the size of its latest catastrophe bond, with the Purple Re Ltd. (Series 2024-1) transaction now expected to reach $210 million.

Slide Insurance Company is back in the catastrophe bond market for what will be its third time, seeking what could be its largest issuance as it targets $150 million in named storm reinsurance through this Purple Re Ltd. (Series 2024-1) transaction.