Slide Insurance announces $75M stock repurchase program

Slide Insurance (SLDE) announced that its Board of Directors has authorized the repurchase of up to $75 million of the Company’s common stock. The authorization is effective immediately, has no time limit, and may be modified, suspended or discontinued at any time. “The initiation of our stock repurchase program is reflective of our strong confidence in our strategic direction, superior underwriting capabilities and well-capitalized balance sheet,” said Bruce Lucas, Chairman and Chief Executive Officer of Slide. “Slide has a very robust balance sheet from our recent IPO as well as better than expected net margins. As a result, our capital position is very strong and we will use it to repurchase common stock when we believe it is below fair value. Share repurchases at this level provide an excellent opportunity to increase return on equity and build long-term value for our shareholders.”