Slide Insurance Holdings Inc. Common Stock (SLDE) : juste valeur

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Slide Insurance writes residential property coverage for homeowners in Florida, a market where most carriers have retreated from the state after repeated hurricane losses, leaving the insurer of last resort and newer private carriers to fill the gap. The company's edge is its risk-sharing structure with reinsurers and its focus on a single peril-exposed state, which lets it price rates upward as competitors exit. Revenue grew 47.9% over the latest reported period, and return on equity reached 53.9% with an operating margin of 46.4%, figures that reflect both rate increases and a thin field of competitors. The near-term catalyst is the June 1 reinsurance renewal, where the cost of catastrophe protection for the 2025 season sets the earnings base for the year ahead. A 6.4 trailing P/E on a $3.1B market cap is cheap for a company growing this fast, but the market is pricing in a single bad hurricane season, so the question for the deeper look is how much of this earnings power survives a large storm.