Reinsurance News
GeoVera Insurance Holdings
SageSure completes acquisition of GeoVera Advantage
3rd January 2025
Managing general underwriter SageSure has closed the previously announced acquisition of GeoVera Advantage Insurance Services, LLC. The entity will now function as a newly formed MGA, including the residential earthquake risk underwriting franchise. As part of the transaction, SageSure invested in GeoVera Nova Holdings, Inc., which has acquired GeoVera Insurance ... Read the full article
AM Best places credit ratings of GeoVera Insurance Group members under review
22nd April 2024
Global credit rating agency AM Best has placed under review with developing implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of the members of GeoVera Insurance Group (GeoVera), which operate under an intercompany reinsurance agreement. Best has confirmed that ... Read the full article
GeoVera combines insurance carriers with SafePort, sells MGA to SageSure
9th April 2024
GeoVera Insurance Holdings, Ltd. has announced its plans to sell its managing general agent business, GeoVera Advantage Insurance Services, Inc., to SageSure; once the deal closes, a new entity named GeoVera Nova Holdings, Inc. (GeoVera Nova) will emerge, assuming control of four insurance operating units. Following the completion of the transaction, ... Read the full article
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