By Arasu Kannagi Basil

June 17 (Reuters) - Slide Insurance and some of its

existing shareholders raised $408 million in an upsized initial

public offering, the coastal specialty insurer said on Tuesday,

signaling strong investor demand in a buoyant market for new

listings.

The Tampa, Florida-based company, along with some

backers such as HSCM Bermuda, sold 24 million shares priced at

$17 apiece. It had earlier aimed to sell 20 million shares

priced between $15 and $17 each.

The insurance sector has emerged as a focal point in the

IPO market, which is rebounding after sweeping tariffs

introduced during President Donald Trump's administration

temporarily shut the window for weeks.

Recent listings in the industry include Apollo-backed Aspen

Insurance, Florida-based American Integrity Insurance ( AII )

and specialty insurer Ategrity, all of which

went public in New York since May.

Founded in 2021, Slide provides family and condominium

insurance policies for coastal states along the Atlantic

seaboard.

The company's business is heavily concentrated in Florida, a

market where some large national insurers have scaled back their

presence in recent years due to frequent natural disasters.

It is led by Bruce Lucas, who previously founded and

headed Florida-based Heritage Insurance ( HRTG ).

While new stock market entrants have generally been well

received by investors, analysts say that sustained stable

trading beyond the initial listing day will be crucial for

bolstering confidence in the IPO market.

"Companies that are kicking the tires on going public

want to see sustained, stable trading versus just a first day

pop and a subsequent drop," said Jeff Zell, senior research

analyst at IPO Boutique.

Among the companies recently added to the IPO pipeline

are gold and copper producer Aura Minerals ( ORAAF ), beef

producer Kilcoy Global Foods and community bank CoastalSouth

Bancshares ( COSO ).

Slide's shares are set to begin trading on the Nasdaq

under the symbol "SLDE" on Wednesday.

Barclays and Morgan Stanley were the lead underwriters

for the offering.