Buzzing into action...
Slide Insurance, a company specializing in homeowners insurance, has secured a $175 million senior credit facility to strengthen its financial stability and support growth plans. The financing was led by Regions Bank, which acted as the administrative agent, joint lead arranger, and joint bookrunner. Synovus Bank and Texas Capital Bank, through its TCBI Securities Inc. division, also participated as joint lead arrangers and joint bookrunners.
Purpose of the Funds
The funds will refinance Slide Insurance’s previous bilateral senior credit facility from Regions Bank and support the company’s growth initiatives. This move is in preparation for the upcoming 2024 Atlantic hurricane season, aiming to enhance the company’s market position and financial resilience.
Previous Financial Achievements
Slide Insurance has been actively reinforcing its financial stability. In 2021, the company raised $100 million during its Series A round. In May 2024, it completed a $1.86 billion reinsurance program. This program meets all regulatory and rating agency requirements, providing protection up to the 175-year return period, positioning Slide Insurance to handle the challenges of the hurricane season and beyond.
If you are a proptech company and want to promote your products for free, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.
Explore more Proptech news at proptechbuzz.com/news. For news tips and promotions, reach out to marketing@proptechbuzz.com.
By Proptechbuzz
By Ravi Kumar
