Articles from SageSure

SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, today announced it has closed the acquisition of GeoVera Advantage Insurance Services, LLC. (“GeoVera Advantage”), the entity that will now function as a newly formed MGA and includes the leading residential earthquake risk underwriting franchise. The transaction was originally announced on April 9, 2024.

Ernst & Young LLP (EY US) announced that Terrence McLean, CEO of SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, was named the Entrepreneur Of The Year® 2024 National Financial Services and Fintech Award winner. The announcement follows McLean’s selection as a New Jersey regional award winner in June.

SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, and Auros Reciprocal Insurance Exchange (“Auros”), a Mississippi-domiciled property insurer owned by its policyholders, today announced an exclusive partnership to bring homeowners solutions to Louisiana and Mississippi.

SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, today announced Peter Hearn has been appointed to the SageSure Board.

SureChoice Underwriters Reciprocal Exchange (“SURE”), a policyholder-owned reciprocal exchange, in partnership with SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, today announced the launch of its first non-admitted business owners policy (BOP) in California.

SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, today announced its collaboration with Markel, the insurance operation within Markel Group Inc. (NYSEMKL). SageSure Expanded Markets will distribute Markel’s insurance products first in Louisiana, South Carolina, and Texas, with more states forthcoming.

SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, Anchor Re, a captive reinsurance vehicle, and SureChoice Underwriters Reciprocal Exchange (“SURE”), a policyholder-owned reciprocal exchange, today announced the close of the Gateway Re 2024-4 county-weighted wind cover catastrophe bond at $60 million, a 20% upsize from the original $50 million target.

SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, today announced Terrence McLean, co-founder and CEO of SageSure, won the Ernst & Young LLP (EY) Entrepreneur Of The Year® 2024 New Jersey Award.

SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, today announced the launch of its first Expanded Markets surplus lines dwelling fire product in Louisiana, New Jersey, South Carolina, and Texas.

SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, and SureChoice Underwriters Reciprocal Exchange (“SURE”), a policyholder-owned reciprocal exchange, today announced the close of the Gateway Re 2024-2 second and subsequent event catastrophe bond at $130 million, with pricing 75 bps tighter than the mid-point of the initial price guidance.

SageSure, one of the largest managing general agents focused on catastrophe-exposed markets, today announced that it has entered into a definitive agreement to acquire GeoVera Advantage Insurance Services, Inc. (“GeoVera MGA”), an existing managing general agent within the specialty property insurance provider GeoVera Insurance Holdings, Ltd. (“GeoVera”). Upon the transaction’s completion, SageSure will assume the underwriting operations of GeoVera MGA’s best-in-class residential earthquake franchise.

SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, and SureChoice Underwriters Reciprocal Exchange (“SURE”), a policyholder-owned reciprocal exchange, today announced the close of the Gateway Re 2024-1 catastrophe bond at $250 million, a 67 percent upsize from the midpoint of its initial $100-$200 million target range.

SureChoice Underwriters Reciprocal Exchange (SURE), a policyholder-owned coastal insurer, in partnership with SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, today announced the launch of its surplus lines homeowners insurance in California, making SURE one of the first Demotech-rated insurers in the state to offer this product. SURE has earned a Financial Stability Rating® of A, Exceptional, from Demotech, Inc., a nationally recognized statistical rating organization specializing in evaluating the financial stability of independent, regional, and specialty insurers.

SureChoice Underwriters Reciprocal Exchange (“SURE”), a policyholder-owned coastal insurer, in partnership with SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, today announced its expansion to the South Carolina commercial property market with its business owners policy (BOP) offering.

SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, was named as the Property Catastrophe Underwriting Team of the Year by Inside P&C Honors for its track record of outstanding underwriting performance. The MGU was also a finalist for the Inside P&C Honors MGA/MGU of the Year and Diversity & Inclusion awards.

SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, today launched sweeping enhancements to Expanded Markets, a program that offers additional capacity in coastal states through third-party products. Built to support producer needs in the most challenging markets, Expanded Markets complements the existing SageSure product suite and capitalizes on SageSure’s agile distribution model.

SageSure, one of the largest independent managing general underwriters focused on providing catastrophe-exposed property insurance and Anchor Re, a captive reinsurance vehicle, today announced the successful close of Anchor Re’s debut $50 million catastrophe bond. At pricing below the transaction’s initial guidance, Anchor Re’s Gateway Re Series 2023-3 catastrophe bond will provide multi-year retrocessional protection against a series of US named storms for SageSure’s carrier partners SURE and SafePort.

SageSure, one of the largest independent managing general underwriters focused on providing catastrophe-exposed property insurance, today announced that it recently surpassed $1 billion of inforce premium and has launched a new corporate brand to signal its ambitions for the future.

SageSure, a leading provider of catastrophe-exposed property insurance, and SureChoice Underwriters Reciprocal Exchange (“SURE”), a policyholder-owned insurer, today announced that SURE has closed a $100 million catastrophe bond to provide reinsurance for second and subsequent events. The catastrophe bond was upsized by 33 percent from the transaction’s initial $75 million target, with pricing more competitive than the initial guidance.

SageSure, one of the largest independent managing general underwriters focused on providing catastrophe-exposed property insurance, today announced the close of a $250 million equity investment led by Amwins and Flexpoint Ford (“Flexpoint”), with participation from Ares Management Corporation.

SafePort Insurance Company, a highly rated property insurer, and SageSure, a leading provider of catastrophe-exposed property insurance, have partnered to successfully close on the placement of a $125 million Rule 144A catastrophe bond. The bond closed at a 25 percent upsize from the initial $100 million transaction target, with pricing at the bottom-end of initial guidance.

SageSure, a leading provider of catastrophe-exposed property insurance, today announced the close of a $50 million expanded revolving credit facility with its new commercial banking partner Wintrust Financial Corporation (“Wintrust”). The funding will enable SageSure to increase underwriting capacity in the catastrophe-exposed markets it currently serves.

SageSure, a leading provider of catastrophe-exposed property insurance, and SureChoice Underwriters Reciprocal Exchange (“SURE”), a policyholder-owned coastal insurer, successfully closed a $355 million Rule 144A catastrophe bond, a 78 percent upsize from the initial $200 million transaction target.