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

TAMPA, Fla.--(BUSINESS WIRE)--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