Tampa insurtech startup acquires $400M in premiums from defunct company

TAMPA — Slide, an insurtech startup that quickly raised $100 million in seed capital, has acquired $400 million worth of premiums from Orlando-based St. Johns Insurance Co., which recently ceased operations after a ratings agency downgraded it.

The move, according to a press release, makes Slide — founded by former Heritage Insurance Holdings CEO Bruce Lucas — one of the three largest insurtech companies in the country. It also ensures that St. Johns’ 150,000 policyholders in Florida and South Carolina enjoy uninterrupted coverage. St. Johns, which had been in business for 20 years, provided homeowners insurance, condo insurance and insurance for landlords.