Slide Insurance's Successful $408 Million IPO Highlights Reviving Market
Slide Insurance, a Tampa-based coastal specialty insurer, successfully raised $408 million in an upsized IPO in the U.S. The offering, including shares sold by HSCM Bermuda, priced 24 million shares at $17 each. The sector sees revival with firms like Aspen Insurance and Ategrity also going public recently.
Slide Insurance has made a significant mark in the market by raising $408 million through an initial public offering in the United States. Announced on Tuesday, the Tampa, Florida-based coastal specialty insurer entered the market with a substantial IPO.
The company's offering was supported by some of its existing shareholders, including HSCM Bermuda, resulting in the sale of 24 million shares priced at $17 each. This oversized IPO underscores the growing interest in the insurance sector, which is experiencing a resurgence. This upturn follows a slowdown due to President Donald Trump's trade tariffs that temporarily closed the IPO window.
Attention on the insurance industry has been intensifying, with recent public offerings from firms like Apollo-backed Aspen Insurance, American Integrity Insurance, and specialty insurer Ategrity. Established in 2021, Slide focuses on providing insurance policies for families and condominiums in coastal states along the Atlantic.
(With inputs from agencies.)
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