SageSure, the specialist catastrophe-exposed property managing general underwriter (MGU), has closed its second reinsurance sidecar transaction with Seawall Re II Ltd., securing $200 million in capital.
Including the debut Seawall Re transaction in July 2025, the SageSure-sponsored sidecar platform has now secured $250 million in less than a year.
According to the firm, the expansion highlights its “pioneering role” at the intersection of reinsurance capital and the capital markets in the catastrophe risk sector, a strategic focus as the company works to further develop the insurance-linked securities (ILS) asset class for institutional investors.
GC Securities, a division of MMC Securities LLC, acted as the sole structuring and placement agent for the sidecar transaction, while Willkie Farr & Gallagher LLP served as deal counsel.
Readers can find further details on this, along with a range of other reinsurance sidecar investments and transactions, in the directory of collateralised reinsurance sidecar deals maintained by our sister publication, Artemis.
Terrence McLean, President and CEO of SageSure, commented, “SageSure is committed to building long-term investor relationships, and Seawall Re II is a direct reflection of that commitment.
“We believe that the future of catastrophe risk management lies in the ability to provide investors with a transparent, data-driven gateway to profitable underwriting results. We look forward to continuing to build investor trust with high-quality data, proactive reporting, and sustained outperformance.”
Liam Martens, Managing Director of GC Securities, a division of MMC Securities LLC, said, “We’re proud to have partnered with SageSure on the Seawall Re platform since its inception.
“The strong investor response signals SageSure’s differentiated approach to catastrophe risk management is highly attractive to the capital markets. We look forward to building on this momentum as the Seawall Re franchise scales.”
In conjunction with its carrier partners, SageSure said its programs are expected to secure approximately $7 billion of first event reinsurance limit in 2026.
