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Slide Secures $210 Million Cat Bond with Closing of Purple Re Ltd.

Retrieved on:

Wednesday, April 10, 2024

Professional Services, Data Management, Technology, Insurance, Finance, Software, Slide

Slide Insurance today announced it has finalized pricing for its $210 million Purple Re Ltd. (Series 2024-1) catastrophe (cat) bond.

Key Points:

Slide Insurance today announced it has finalized pricing for its $210 million Purple Re Ltd. (Series 2024-1) catastrophe (cat) bond.
The largest cat bond sponsored by Slide to date, Purple Re Ltd. provides 40% more in fully collateralized reinsurance than the initial target of $150 million and is priced in the lower half of initial spread guidance at 9%.
This cat bond secures an additional $210 million for Slide to expand its Florida and South Carolina named storm and hurricane reinsurance protection.
With the addition of this cat bond, approximately 70% of our reinsurance is placed on a multi-year basis.”
Last year , Slide debuted its Purple Re Ltd. Series 2023-1 and Series 2023-2 cat bonds, generating $200 million in reinsurance protection.

Slide Acquires Renewal Rights for Farmers Insurance® Homeowners Policies in Florida

Retrieved on:

Friday, October 13, 2023

Professional Services, Technology, Insurance, Finance, Software, Fintech, Acquisition, UPC, UPC Insurance, Regions Financial Corporation, Farmer, News, CFO, Farmers Insurance Group, Slide

Slide Insurance , the full-stack insurtech providing effective homeowners coverage for the Florida market, today announced it has acquired renewal rights for 86,000 Florida homeowners insurance policies from Farmers Insurance®.

Key Points:

Slide Insurance , the full-stack insurtech providing effective homeowners coverage for the Florida market, today announced it has acquired renewal rights for 86,000 Florida homeowners insurance policies from Farmers Insurance®.
The transaction does not include Farmers Insurance renters, auto, or umbrella policies.
“We remain bullish on Florida’s insurance market and believe the market is ripe for an innovator like Slide,” said Bruce Lucas, Founder and CEO of Slide.
Following the acquisition of renewal rights to over 91,000 policies from UPC Insurance earlier this year, Slide has continued to emphasize building strong financial stability.

New Generative AI Innovations in Adobe Express Accelerate New Era of ‘Creativity for All’

Retrieved on:

Tuesday, October 10, 2023

With groundbreaking generative AI designed to be safe for commercial use, Express is revolutionizing how people and businesses around the world turn ideas into standout content and stunning social media campaigns.

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With groundbreaking generative AI designed to be safe for commercial use, Express is revolutionizing how people and businesses around the world turn ideas into standout content and stunning social media campaigns.
Creative Cloud and Express Premium subscribers receive monthly Generative Credits that can be used for Firefly-generated content.
The Google Drive add-on for Express enables users to browse and import assets from their Google Drive folders directly into Express.
The latest version of Express for mobile is currently in beta, find out more or join the beta list here .

Slide Secures Additional $100 Million Cat Bond with Closing of Purple Re Ltd.

Retrieved on:

Wednesday, July 12, 2023

Technology, Insurance, Construction & Property, Fintech, Professional Services, Data Analytics, Data Management, Artificial Intelligence, Residential Building & Real Estate, Atlantic hurricane, EY, Regions Financial Corporation, Slide, Reinsurance

This is the second cat bond sponsored by Slide this year, following the debut of its $100 million Purple Re 2023-1 cat bond in April.

Key Points:

This is the second cat bond sponsored by Slide this year, following the debut of its $100 million Purple Re 2023-1 cat bond in April.
With the latest Purple Re cat bond, Slide secured an additional $100 million to expand its Florida and South Carolina named storm and hurricane reinsurance protection.
The additional cat bond protects Slide to the 200 year return period, well above rating agency and regulatory mandates.
In addition to the debut cat bond, Slide secured $35 million in additional capital through a senior credit facility with Regions Bank in June.

Legendary Animator Bill Plympton to Appear at Portland Festival of Cinema, Animation & Technology's August Event at OMSI

Retrieved on:

Wednesday, July 12, 2023

PORTLAND, Ore., July 12, 2023 /PRNewswire/ -- Today, Portland Festival of Cinema, Animation and Technology (PFCAT) is pleased to announce that legendary director and animator Bill Plympton will be in attendance at the 2023 Portland Festival of Cinema, Animation & Technology on August 4th at 8pm.

Key Points:

PORTLAND, Ore., July 12, 2023 /PRNewswire/ -- Today, Portland Festival of Cinema, Animation and Technology (PFCAT) is pleased to announce that legendary director and animator Bill Plympton will be in attendance at the 2023 Portland Festival of Cinema, Animation & Technology on August 4th at 8pm.
This special event will be held at the Oregon Museum of Science and Industry's (OMSI) Empirical Theater.
Admission to this special event is $25 and includes the screening, presentation and reception at Theory Restaurant.
After the screening and presentation, Plympton will sign autographs and offer complimentary sketches to audience members.

Slide Insurance Raises Additional $35 Million of Capital

Retrieved on:

Thursday, June 22, 2023

Software, Professional Services, Data Management, Start-Up, Payments, Electronic Commerce, Technology, Other Professional Services, Insurance, Finance, Other Technology, Consulting, Region, Growth, Regions Financial Corporation, Slide, Cryptocurrency, Financial services

Slide Insurance , a full-stack insurtech focused on homeowners insurance, announced today the closing of a $35 million senior credit facility with Regions Bank.

Key Points:

Slide Insurance , a full-stack insurtech focused on homeowners insurance, announced today the closing of a $35 million senior credit facility with Regions Bank.
“Securing the capital structure to support our technology development and growth has been a key focus since our inception," said Slide founder and CEO, Bruce Lucas.
“Regions has a long track record of success with growth-oriented companies in the property and casualty insurance industry,” Loughead said.
“Our work with Slide is a prime example of our team’s ability to deliver tailored capital and advisory solutions in a manner that maximizes client outcomes.

Slide Insurance Places Reinsurance Program

Retrieved on:

Thursday, May 25, 2023

Data Analytics, Professional Services, Technology, Insurance, Artificial Intelligence, EY, Reinsurance, Slide

Slide Insurance , a full-stack homeowners insuretech, announced today that it successfully completed its reinsurance program for the 2023 hurricane season.

Key Points:

Slide Insurance , a full-stack homeowners insuretech, announced today that it successfully completed its reinsurance program for the 2023 hurricane season.
Slide’s reinsurance program exceeds regulatory and rating agency requirements.
The comprehensive reinsurance tower protects Slide Insurance Company to the 185-year return period, reduces retention to $5 million, includes all perils coverage, multi-year and third event protection.
We are tremendously happy to have placed an oversubscribed reinsurance program, especially during a difficult market cycle,” said Bruce Lucas, Founder and CEO of Slide.

EY Announces Bruce Lucas of Slide Insurance as an Entrepreneur Of The Year® 2023 Florida Award Finalist

Retrieved on:

Thursday, May 18, 2023

Professional Services, Data Management, Technology, Data Analytics, Insurance, Artificial Intelligence, Ernst & Young Entrepreneur of the Year Award, EY, GAAP, American City Business Journals, Artificial intelligence, Growth, City, Demotech, News, Slide, Ernst & Young, Fungiculture, Airline

Ernst & Young LLP (EY US) has announced that Bruce Lucas of Slide Insurance was named an Entrepreneur Of The Year® 2023 Florida Award finalist.

Key Points:

Ernst & Young LLP (EY US) has announced that Bruce Lucas of Slide Insurance was named an Entrepreneur Of The Year® 2023 Florida Award finalist.
Lucas founded the company in 2021 with the vision of building Slide to be the most technologically advanced company in the industry.
Lucas’ inclusion as a finalist comes on the heels of a year of strong, strategic growth for the company.
The Entrepreneur Of The Year National Overall Award winner will then move on to compete for the EY World Entrepreneur Of The Year™ Award in June 2024.

aiXplain Raises $8M in Seed Funding to Accelerate AI Solutions Development

Retrieved on:

Wednesday, April 26, 2023

SAN JOSE, Calif., April 26, 2023 /PRNewswire/ -- aiXplain, the industry's first no-code/low-code integrated AI development platform, announced today that it has raised $8 million in seed funding led by Transform VC and Calibrate Ventures.

Key Points:

SAN JOSE, Calif., April 26, 2023 /PRNewswire/ -- aiXplain, the industry's first no-code/low-code integrated AI development platform, announced today that it has raised $8 million in seed funding led by Transform VC and Calibrate Ventures.
aiXplain is the industry's first end-to-end integrated platform for quick development and delivery of AI projects.
aiXplain's no-code/low-code integrated development environment (IDE) enables users to develop, manage, benchmark, experiment and one-click deploy AI assets.
Through the aiXplain marketplace, users can access aiXplain's own as well as third-party assets from OpenAI, Google, AWS, Azure and dozens of other AI technology providers.

United Insurance Holdings Corp. Announces the Sale of Its Florida Personal Lines Renewal Rights to Slide Insurance, Inc.

Retrieved on:

Wednesday, February 1, 2023

Other Professional Services, Professional Services, Insurance, UPC, UIHC, Service, Policy, UPC Insurance, Reinsurance, Slide

United Insurance Holdings Corp. (Nasdaq: UIHC), a property and casualty insurance holding company (“UPC Insurance”), announced today that it has sold the renewal rights to UPC Insurance’s personal lines business in the state of Florida, and sold certain data and intellectual property to Slide Insurance, Inc. (“Slide”).

Key Points:

United Insurance Holdings Corp. (Nasdaq: UIHC), a property and casualty insurance holding company (“UPC Insurance”), announced today that it has sold the renewal rights to UPC Insurance’s personal lines business in the state of Florida, and sold certain data and intellectual property to Slide Insurance, Inc. (“Slide”).
The transaction accelerates the run-off of UPC Insurance’s personal lines portfolio, further reducing its exposure to Florida liabilities and allowing UPC Insurance to focus on its fast-growing commercial specialty property portfolio, underwritten by American Coastal Insurance Company.
Under the terms of the transaction, UPC Insurance will cancel approximately 72,000 Florida personal lines policies on February 1, 2023, and Slide will immediately issue replacement policies.
Additionally, Slide will make offers of coverage to additional Florida personal lines policies expiring in April 2023.