XML 19 R12.htm IDEA: XBRL DOCUMENT
v3.25.3

Fixed-Maturity Securities Available-For-Sale | 9 Months Ended
--- | ---
Sep. 30, 2025
Debt Securities, Available-for-Sale [Abstract] |
Fixed-Maturity Securities Available-For-Sale | 3. Fixed-Maturity Securities Available-For-Sale The amortized cost, gross unrealized gains and losses, and estimated fair value of investments in fixed-maturity securities available-for-sale at September 30, 2025 and December 31, 2024, are as follows:
|  | September 30, 2025 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
U.S. government and agencies |  | $ | 145,066 |  |  | $ | 1,941 |  |  | $ | (14 | ) |  | $ | 146,993 |
States, municipalities and political subdivisions |  |  | 166,703 |  |  |  | 3,423 |  |  |  | (144 | ) |  | $ | 169,982 |
Corporate Bonds |  |  | 129,982 |  |  |  | 3,823 |  |  |  | (7 | ) |  | $ | 133,798 |
Asset-Backed Securities |  |  | 23,703 |  |  |  | 145 |  |  |  | (18 | ) |  | $ | 23,830 |
|  | $ | 465,454 |  |  | $ | 9,332 |  |  | $ | (183 | ) |  | $ | 474,603 |
|  | December 31, 2024 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
U.S. government and agencies |  | $ | 166,641 |  |  | $ | 418 |  |  | $ | (776 | ) |  | $ | 166,283 |
U.S. states, territories and possessions |  |  | 17,344 |  |  |  | 71 |  |  |  | (193 | ) |  |  | 17,222 |
Industrial and miscellaneous |  |  | 149,104 |  |  |  | 1,350 |  |  |  | (429 | ) |  |  | 150,025 |
Special Revenue |  |  | 106,681 |  |  |  | 527 |  |  |  | (622 | ) |  |  | 106,586 |
Political subdivisions |  |  | 23,061 |  |  |  | 187 |  |  |  | (151 | ) |  |  | 23,097 |
Hybrid securities |  |  | 1,754 |  |  |  | — |  |  |  | (1 | ) |  |  | 1,753 |
|  | $ | 464,585 |  |  | $ | 2,553 |  |  | $ | (2,172 | ) |  | $ | 464,966 |
The amortized cost and estimated fair value of investments in fixed-maturity securities at September 30, 2025 and December 31, 2024, by contractual maturity, are shown below.
|  | September 30, 2025 |  |  | December 31, 2024 |
|  | Amortized Cost |  |  | Estimated Fair Value |  |  | Amortized Cost |  |  | Estimated Fair Value |
In one year or less |  | $ | 41,456 |  |  | $ | 41,609 |  |  | $ | 56,574 |  |  | $ | 56,666 |
After one year through five years |  |  | 273,751 |  |  |  | 279,568 |  |  |  | 286,584 |  |  |  | 287,703 |
After five years through 10 years |  |  | 122,082 |  |  |  | 125,209 |  |  |  | 112,702 |  |  |  | 112,117 |
After 10 years |  |  | 28,165 |  |  |  | 28,217 |  |  |  | 8,725 |  |  |  | 8,480 |
|  | $ | 465,454 |  |  | $ | 474,603 |  |  | $ | 464,585 |  |  | $ | 464,966 |
Actual maturities may differ from contractual maturities, as the issuers of the securities may have the right to call or prepay obligations with or without penalty. The following tables show the Company’s investments estimated fair value and gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2025.
|  | September 30, 2025 |
|  | Less than 12 months |  |  | More than 12 months |  |  | Total |
|  | Estimated Fair Value |  |  | Unrealized Losses |  |  | Estimated Fair Value |  |  | Unrealized Losses |  |  | Estimated Fair Value |  |  | Unrealized Losses |
U.S. government and agencies |  | $ | 2,030 |  |  | $ | — |  |  | $ | 1,724 |  |  | $ | (14 | ) |  | $ | 3,754 |  |  | $ | (14 | )
States, municipalities and political subdivisions |  |  | 10,011 |  |  |  | (102 | ) |  |  | 2,436 |  |  |  | (42 | ) |  |  | 12,447 |  |  |  | (144 | )
Corporate Bonds |  |  | 445 |  |  |  | (1 | ) |  |  | 1,984 |  |  |  | (6 | ) |  |  | 2,429 |  |  |  | (7 | )
Asset-Backed Securities |  |  | 15,909 |  |  |  | (18 | ) |  |  | — |  |  |  | — |  |  |  | 15,909 |  |  |  | (18 | )
|  | $ | 28,395 |  |  | $ | (121 | ) |  | $ | 6,144 |  |  | $ | (62 | ) |  | $ | 34,539 |  |  | $ | (183 | )
A total of 29 securities had unrealized losses at September 30, 2025. The Company’s unrealized losses relate to its portfolio of fixed-maturity securities. The Company’s unrealized losses on its fixed maturity securities were caused by interest rate changes. The Company regularly reviews its individual investment securities for credit impairment. The Company considers various factors in determining whether a credit loss exists for each individual security, including: • the financial condition and near-term prospects of the issuer, including any specific events that may affect its operations or earnings; • the extent to which the market value of the security has been below its cost or amortized cost; • general market conditions and industry or sector specific factors and other qualitative factors; • nonpayment by the issuer of its contractually obligated interest and principal payments; and • the Company’s intent and ability to hold the investment for a period of time sufficient to allow for the recovery of costs. For the nine months ended September 30, 2025, the Company recognized $0 credit loss expense related to fixed-maturity securities in the consolidated statements of income. The following tables show the Company’s investments estimated fair value and gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2024.
|  | December 31, 2024 |
|  | Less than 12 months |  |  | More than 12 months |  |  | Total |
|  | Estimated Fair Value |  |  | Unrealized Losses |  |  | Estimated Fair Value |  |  | Unrealized Losses |  |  | Estimated Fair Value |  |  | Unrealized Losses |
U.S. government and agencies |  | $ | 93,063 |  |  | $ | (729 | ) |  | $ | 2,975 |  |  | $ | (47 | ) |  | $ | 96,038 |  |  | $ | (776 | )
U.S. states, territories and possessions |  |  | 9,169 |  |  |  | (193 | ) |  |  | 502 |  |  |  | — |  |  |  | 9,671 |  |  |  | (193 | )
Industrial and miscellaneous |  |  | 69,745 |  |  |  | (389 | ) |  |  | 3,417 |  |  |  | (40 | ) |  |  | 73,162 |  |  |  | (429 | )
Special revenue |  |  | 43,829 |  |  |  | (604 | ) |  |  | 2,693 |  |  |  | (17 | ) |  |  | 46,522 |  |  |  | (621 | )
Political subdivisions |  |  | 4,477 |  |  |  | (151 | ) |  |  | 503 |  |  |  | (1 | ) |  |  | 4,980 |  |  |  | (152 | )
Hybrid securities |  |  | 1,754 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | 1,754 |  |  |  | (1 | )
|  | $ | 222,037 |  |  | $ | (2,067 | ) |  | $ | 10,090 |  |  | $ | (105 | ) |  | $ | 232,127 |  |  | $ | (2,172 | )
A total of 125 securities had unrealized losses at December 31, 2024. The Company’s unrealized losses relate to its portfolio of fixed-maturity securities. The Company’s unrealized losses on its fixed-maturity securities were caused by interest rate changes. The Company regularly reviews its individual investment securities for credit impairment. The Company considers various factors in determining whether a credit loss exists for each individual security, including: • the financial condition and near-term prospects of the issuer, including any specific events that may affect its operations or earnings; • the extent to which the market value of the security has been below its cost or amortized cost; • general market conditions and industry or sector specific factors and other qualitative factors; • nonpayment by the issuer of its contractually obligated interest and principal payments; and • the Company’s intent and ability to hold the investment for a period of time sufficient to allow for the recovery of costs. For the year ended December 31, 2024, the Company recognized $0 credit loss expense related to fixed-maturity securities in the consolidated statements of income. Proceeds from maturities, and redemptions of fixed-maturities securities were $75,745 and $25,059 for the nine months ended September 30, 2025 and 2024, respectively, with realized gross gains of $6 and $8 on these sales, maturities, and redemptions respectively. At September 30, 2025 and December 31, 2024, the Company had restricted cash of $540,634 and $296,433, respectively, consisting of funds on deposit with regulatory authorities, as required by law and funds held in trust by the VIE where the Company is the primary beneficiary. Major categories of net investment income, excluding realized gains, are summarized as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Income: |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale fixed-maturity securities |  | $ | 5,666 |  |  | $ | 5,346 |  |  | $ | 16,551 |  |  | $ | 13,988 |
Cash and cash equivalents |  |  | 13,542 |  |  | $ | 7,513 |  |  |  | 31,704 |  |  |  | 20,629 |
Other investments |  |  | 106 |  |  | $ | 134 |  |  |  | 339 |  |  |  | 432 |
Total investment income |  | $ | 19,314 |  |  | $ | 12,993 |  |  | $ | 48,594 |  |  | $ | 35,049 |
Investment expenses |  |  | 221 |  |  | $ | 207 |  |  |  | 653 |  |  |  | 549 |
Net investment income |  | $ | 19,093 |  |  | $ | 12,786 |  |  | $ | 47,941 |  |  | $ | 34,500 |

X
- Definition Fixed-Maturity Securities Available-For-Sale Disclosure TextBlock + References No definition available. + Details
Name: | slde_Fixed-MaturitySecuritiesAvailable-For-SaleDisclosureTextBlock
Namespace Prefix: | slde_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_AvailableForSaleSecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration