Latest news with #Slide
Yahoo
3 days ago
- Business
- Yahoo
'Grotesque': Husband-wife insurance execs earn more than $50 million in 2 years
A Florida insurance company's husband-and-wife team of top executives earned pay in 2023 and 2024 that totaled more than $50 million, according to federal filings. Tampa-based Slide Insurance Company, the state's sixth largest insurance company, which started operations in 2022, paid its CEO Bruce Lucas $21 million last year, more than all other Florida insurance companies except for one. And Slide's COO Shannon Lucas made $16.5 million that same year, according to a May 23 filing with the Securities and Exchange Commission, first reported in the Insurance Journal. Meanwhile, national insurers' CEOs such as top executives at Liberty Mutual and Progressive, are making less than Shannon Lucas in total compensation, the article notes. The pair earned $12.6 million in 2023. The public filing has sparked condemnation and calls for more reform from a few quarters. The Insurance Journal highlighted how Slide founder and CEO Bruce Lucas, who left Heritage Insurance Company in 2021, is making nearly five times his successor at that Deerfield Beach-based insurer he helped co-found in 2012. Current Heritage CEO Ernie Garateix made $4.3 million in 2024, the Insurance Journal reported. Douglas Heller, director of insurance for the Consumer Federation of America, called the compensation package, 'grotesque,' especially considering Florida's insurance woes due to its vulnerability to catastrophic hurricanes. Also problematic for Heller: how much of the start-up's business came from policyholders essentially forced to take Slide Insurance because Citizens Property Insurance Corp., the state-backed insurer of last resort, wanted to pare its rolls. Citizens' policyholders can be forced to take a policy from a commercial insurer should the policy cost within 20% of what the estimated Citizens' policy would have renewed at. Slide, from 2023, when it started taking Citizens' policyholders, to the end of May 2025 has assumed a total of 232,901 policies that were under Citizens, according to information on the state-backed insurer's website. Slide currently has 343,000 policies in force, according to the Florida Office of Insurance Regulation. The Washington-based consumer education and research organization that's more than 50 years old has found that residents in most Florida zip codes are paying the highest premiums in the country, Heller said The compensation for Slide's executives, Heller said, is 'just shocking and should offend the sensibilities not just of every policyholder who pays premiums to Slide, but every politician who created the conditions for Slide to move in, take all these policies and vacuum up this for their personal windfall.' More: Hope for legislative property insurance fix dimming as Legislature enters second half Slide Insurance officials did not return an email seeking comment, but industry officials have long pointed out that Florida's insurance industry is one of the most heavily regulated in the state. Insurance companies that want to increase their premium rates by 15% more than the previous year company must undergo a public hearing before a panel from the state's Office of Insurance Regulation, justify the increases with historical claims and future risk assessments and then hope for the regulatory body's stamp of approval. Still, Republican Rep. Hillary Cassel, who works as a plaintiff's insurance attorney and introduced legislation this year that would have changed the landscape in which Slide has taken root, said the situation points out exactly why the current set of rules should be modified. Her legislation sought — and ultimately failed — to roll back a 2022 change that made it so that attorney fees, in most cases, would not be added into litigated settlements for policyholders against their insurers. The 2022 tort changes have caused the number of suits against insurers to plummet, and, some say, stem a tide of legal fraud, add up to a healthier insurance market with more consumer choices and slow the premium growth from the crisis of a few years ago when some premiums were tripling. Cassel, however, has said the changes have left Florida homeowners still paying more and with few avenues to hold their insurer accountable. And the Lucases are paying themselves on the backs of Florida policyholders, she said. 'This is exactly the type of egregious behavior that, as the vice chair of the House Insurance & Banking Subcommittee, I am committed to ensuring oversight and transparency into any and all payments … so runaway insurance costs are reined in, claims are paid and Floridian may continue to secure coverage for their property,' Cassel said. More: Report: As insurance market wobbled, some companies paid billions to affiliated firms Cassel's subcommittee was holding an investigation during the last legislative session into insurance company payments, but it did not come to any conclusions about why parent companies of Florida insurers distributed $680 million to shareholders and distributed billions more to company affiliates. The report filed with federal authorities shows that Slide is heavily reliant on reinsurance to pay claims, Heller noted. Reinsurance is what insurers must buy on the global financial markets to fortify their reserves to prepare for when or if a catastrophic level of claims hit. The reinsurance market has improved since the Florida market started wobbling beginning in 2019, but Florida's insurance crisis peaked as the reinsurance market became particularly tight. Reinsurance costs typically account for the largest, single chunk in an insurance premium — about 30% to 50%. 'To be highly reliant on reinsurance that's a real concern, especially in Florida, where the reinsurance market has been extremely volatile, and there's only so much they (Slide) can take out of the Florida reinsurance fund,' Heller said. 'And if you're highly reliant on reinsurance … you could imagine things going south for Slide customers really quickly.' Slide did enter the market at a moment of high risk for Florida insurers: 10 Florida-based insurance companies became insolvent between 1999 and 2023, and some national carriers decreased Florida business. The risk appears to be paying off for Slide: What was left for stockholders after expenses, taxes and costs (commonly known as the profit) grew from $87 million in 2023, its first full year in business, to $201 million in 2024. That's about a 130% growth in net income attributable to common stockholders, according to the federal filing. Insurance Commissioner Mike Yaworsky could not be reached to comment on the filing, and Slide officials did not comment due to the 'quiet period,' according to reporting from the Insurance Journal. This period falls between when the initial public stock offering is registered with the federal government and a month after stock trading begins, to ensure that officers don't release new information that could affect investor decisions. Still, Harold Levy, founder and managing partner of HL Law Group in Fort Lauderdale, which represents insurance policyholders, said the situation sounds like the same old insurance game: deny, delay, defend. 'Further evidence that it is clearly a profitable strategy to take in premiums and not pay claims,' he said, after hearing of Slide's expanding executive compensation and profits. Anne Geggis is the insurance reporter at The Palm Beach Post, part of the USA TODAY Florida Network. You can reach her at ageggis@ support our journalism. Subscribe today This article originally appeared on Palm Beach Post: 'Grotesque': Married insurance execs earn $50 million in 2 years
Graziadaily
21-05-2025
- Entertainment
- Graziadaily
Carrie Bradshaw's Best Shoes Have Been Re-Released – And They're Selling Fast
'i lost my choo!' Four words, one simple line, but an iconic catchphrase that catapulted Jimmy Choo from a glamorous shoe brand into a cult label. Uttered by Carrie Bradshaw, while running for the Staten Island ferry (spoiler: she missed the boat), Jimmy Choo remains synonymous with Sex And The City even now. ' Sex And The City was all about four girls living it up in the city, falling in love, finding love – with a massive dose of fashion,' says creative director Sandra Choi. Bradshaw's now-iconic violet velvet, feather-trimmed strappy sandal – the 72138 – is just one of the eight styles from the luxury shoe label's first five years to be reissued by the brand as part of its new collection, The Archive 1997-2001. 'We looked at three decades of work and dialled back to the first five years. Why? Because those years truly represent the heart and soul of Jimmy Choo – they're our roots, where it all began. And in looking at these styles, I saw ideas that are still essential to Jimmy Choo today – eternal values of glamour, of femininity, combined with make and craft,' says Choi. The new collection – available globally now – heroes the style signifiers that have shaped the Jimmy Choo shoe-verse across the past three decades, from animal print to a humorous design detail (see the corsage thong toe detail, reissued from a 2001 best-seller) to the perfect 'taxi shoe'. 'I wanted the strap to be as thin as possible – not spaghetti, but spaghettini .' When shifting through the vast archive, Choi called on two fashion experts for their takes on what makes Jimmy Choo Jimmy Choo. Enter journalist and historian Alex Fury and fashion designer and frequent JC collaborator Connor Ives. 'I think a surprising element [of the collaboration] was the sheer breadth of the collections – they were super-expansive, right from the very start, and full of so many ideas, which Jimmy Choo has never really revisited before,' says Fury. 'I think people often think the brand was just about high heels, just about a very specific type of glamour – which is a reason we wanted to include the Slide style from 1999, which just feels so modern and right. There's a timelessness to all these pieces – they felt right then, they feel right now, they'll feel right tomorrow. That was really exciting.' Sarah Jessica Parker as Carrie Bradshaw wearing Jimmy Choo's Leo shoes The pistachio square-toe backless loafer certainly doesn't feel 26 years old – in fact, it could easily be designed now and worn by any number of today's minimalist-living, quiet luxury influencers. 'Think Christy Turlington at the airport,' says Choi. For Ives, who grew up raiding his mum's wardrobe, Jimmy Choo remains the go-to for a perennial party shoe. 'It's sexy, flirty, and fun,' he says, when asked to describe the brand. 'From Princess Diana being an early client and supporter, all the way up to Carrie in Sex And The City , I couldn't think of a more immaculate trajectory. Which brings us to today and the Chloë Sevigny of it all, it's always been donned by the coolest girls.' Fury agrees. 'There are such good vibes around Jimmy Choo – they're shoes that lift your spirits. And that's an incredible legacy and identity to have – it's also that idea of glamour as being not so much about how you look, but how you feel; about confidence and positivity.' For Choi, leaning into its organic megawatt appeal has been crucial to the brand's success. 'We had SATC , then the Spice Girls, then Ab Fab and Friends . It's pure girl power.' Coupling great design while recognising the importance of pop culture, Jimmy Choo was the first brand to dress celebrities on the red carpet. 'Deep down there's always an entrepreneurial spirit,' she says. 'Some of those original stylists are still friends. That red carpet circuit helped make Jimmy Choo.' SJP as Carrie in Jimmy Choo boots As for your own shoedrobe? Those heading to Ibiza this summer might be persuaded to add the Thong to their carry-on: a high-heeled thong sandal with silvered chain mail ('the inspiration came from those famous handkerchief tops. The heel height is 85cm – which is reasonable,' says Choi). The mid-calf boot, remade in python-print leather, feels perfect for summer nights transitioning from office to bar, while the dotty Bow, a style from 2000, ties up the foot in a ladylike court-style shoe. Reimagined in mustard and black, it's prim – with plenty of sass. 'It's been great to step back and acknowledge just how rich the brand's heritage is. Thirty years is a long time and, for me, it's not a new chapter; it's one volume of the book. The material science is different, the way that we live and wear is different. At the very least, what we continue to do is make someone happy,' says Choi. Jimmy Choo 72318 Lilac Suede Sandal with Feather Embellishment The shoes worn by Carrie Bradshaw in Sex and the City series 3 episode 1, this is your new ultimate party sandal. Wear with your favourite dress and always feel fabulous. Jimmy Choo Slide Mint Nubuck Leather Mule Super chic and in the most delicious shade of mint green, wear these with slouchy trousers and crisp white shirts. Jimmy Choo Thong Metallic Nappa Leather Sandal with Metal Mesh Made for Ibiza nights, wear these for drinks, dancing and watching the sun rise. Jimmy Choo Python-Printed Leather Knee-High Boot Imagine these boots with midi dresses and sumptuous coats come autumn/winter. Perfection. Jimmy Choo Bow Spotted Elaphe-Printed Leather Sandal with Knot Detail Swap your classic courts for these chic heels, which will look just as good with jeans as they do tailoring and smart dresses. Jimmy Choo Leo Leopard-Print Grosgrain Sandal For the animal print lovers, this high-octane heel will add glamour to just about any outfit. Jimmy Choo Strappy Black Satin Sandal Timeless, super-chic and with plenty of sex appeal, these strappy black shoes will go with everything you own. Jane McFarland is Grazia's associate editor, overseeing fashion, beauty and luxury content. A fashion journalist for over ten years and previously The Sunday Times Style's Wardrobe Mistress, Jane loves dissecting trends, discovering new brands and writing about personal style. Follow Jane on Instagram here @Jane_McFarland. Hannah Banks-Walker is Grazia's head of fashion commerce. She has previously written for the likes of Harper's Bazaar, The Financial Times, Glamour, Stylist, The Telegraph, Red, i-D and The Pool on everything from fashion to curly hair (hi!) to the patriarchy. Not necessarily in that order. Find her on Instagram and Twitter . But please don't look for her MySpace profile, which until now was the last time she wrote about herself in the third person.
Business Wire
14-05-2025
- Business
- Business Wire
Slide Secures $250 Million Cat Bond with Closing of Purple Re Ltd. 2025-1
TAMPA, Fla.--(BUSINESS WIRE)--Slide Insurance today announced it has finalized pricing for its $250 million Purple Re Ltd. (Series 2025-1) catastrophe (cat) bond. This was the fourth and largest cat bond offering sponsored by Slide to date, exceeding the previous largest offering by $40 million. The Series 2025-1 cat bond was offered in two separate fully collateralized classes of $125 million, with the Class A notes priced at 7.25% and the Class B notes priced at 7.75%, both within the lower halves of their respective initial spread guidance. Proceeds will be used to further expand Slide's named storm and hurricane reinsurance protection in Florida and South Carolina. 'We are very pleased to complete our latest and largest cat bond offering, which further reinforces and ensures that our policyholders are fully protected in their time of need,' said Bruce Lucas, Founder and Chief Executive Officer of Slide Insurance. 'Securing cat bonds over the past couple of years and building our reinsurance tower has proven to be a prudent source of multi-year reinsurance protection for Slide. With the successful completion of this offering, Slide has placed $660 million of our reinsurance program in the ILS market.' The reinsurance protection from the Purple Re 2025-1 cat bond will be provided within Florida and South Carolina on an indemnity and per occurrence basis, over a three-year term from June 1, 2025 through May 31, 2028. About Slide Slide is a technology-enabled insurance company that makes it easy for homeowners to choose the right coverage for their unique needs and budgets. Slide's cutting-edge technology leverages artificial intelligence and big data to optimize and streamline every part of the insurance process. Based in Tampa, FL the company was founded by Bruce and Shannon Lucas, insurance insiders with a deep understanding of how technology can be applied to achieve better underwriting outcomes. Slide launched operations in February 2022 and has quickly grown to become a leading coastal P&C insurance company. For more information, please visit
Scottish Sun
25-04-2025
- Entertainment
- Scottish Sun
Peter Andre's son Junior celebrates one year anniversary with Celebs Go Dating girlfriend
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) JUNIOR Andre gushed over girlfriend Jasmine Orr as they marked one year together. The son of Peter Andre and Katie Price, 19, met Jasmine, 24,after she appeared on the reality TV show Celebs Go Dating. Sign up for the Entertainment newsletter Sign up 4 Junior Andre and Jasmine Orr celebrated their first anniversary Credit: Instagram 4 The couple posted gushing tributes to each other to mark the occasion Credit: Instagram The loved-up couple celebrated their one year anniversary with a romantic post on Instagram. Jasmine posted a photo of them together with the caption 'one year' and a love heart emoji. The Slide hitmaker then reposted it to his story, and added: 'My love' and added his own heart emoji. Junior first revealed he had a secret girlfriend in April 2024. The couple then went Instagram official the following month with a loved-up snap. They also created their own TikTok account to give fans a glimpse inside their relationship and later made their red carpet debut in August. Junior's mum, Katie Price, previously called the duo as "so cute.'' She previously appeared every inch the proud mum as she posed with her kids and their partners for a spooky Halloween snap. The proud mama discussed her son's romance with Jasmine on her podcast with sister Sophie. Katie said: "Isn't it funny when your kids get older and they get in relationships and you meet their girlfriends and boyfriends as they're adults, she's an adult. Katie Price's son Junior Andre, 18, makes red carpet debut with Celebs Go Dating star girlfriend Jasmine, 23 "They're not like young kids at school." The couple's anniversary comes just a few weeks after Junior's dad and step-mum Emily celebrated the first birthday of their daughter Arabella. Peter, 52, was seen affectionately holding her close to him and giving her a sweet kiss on the head in photos posted to Instagram of her birthday party. As well as Arabella, the pair share Millie, 10, and Theo, eight as well as and Peter's two children from his previous marriage, Princess, 17, and Junior. 4 Junior and Jasmine met while starring on Celebs Go Dating Credit: Splash
The Irish Sun
25-04-2025
- Entertainment
- The Irish Sun
Peter Andre's son Junior celebrates one year anniversary with Celebs Go Dating girlfriend
JUNIOR Andre gushed over girlfriend Jasmine Or r as they m arked one year together. The son of Peter Andre and Katie Price, 19, met Jasmine, 24,after she appeared on the reality TV show Celebs Go Dating. Advertisement 4 Junior Andre and Jasmine Orr celebrated their first anniversary Credit: Instagram 4 The couple posted gushing tributes to each other to mark the occasion Credit: Instagram The Jasmine posted a photo of them together with the caption 'one year' and a love heart emoji. The Slide hitmaker then reposted it to his story, and added: 'My love' and added his own heart emoji. Junior first revealed Advertisement peter andre The They also created their own TikTok account to give fans a glimpse inside their relationship and later in August. Junior's mum, She previously appeared every inch the proud mum as she Advertisement Most read in Showbiz Exclusive The proud mama discussed her son's romance with Jasmine on her podcast with Katie said: "Isn't it funny when your kids get older and they get in relationships and you meet their girlfriends and boyfriends as they're adults, she's an adult. Katie Price's son Junior Andre, 18, makes red carpet debut with Celebs Go Dating star girlfriend Jasmine, 23 "They're not like young kids at school." The couple's anniversary comes just a few weeks after Junior's dad and step-mum Emily celebrated the first birthday of their daughter Arabella. Advertisement Peter , 52, was seen affectionately holding her close to him and giving her a sweet kiss on the head in photos posted to Instagram of her birthday party. As well as Arabella, the pair share Millie, 10, and Theo, eight as well as and Peter's two children from his previous marriage , Princess, 17, and Junior . 4 Junior and Jasmine met while starring on Celebs Go Dating Credit: Splash 4 They went Instagram official in 2024 Credit: tiktok Advertisement
