Reinsurance News
SageSure Insurance Managers
SURE to offer commercial property coverage in South Carolina
7th November 2023
SureChoice Underwriters Reciprocal Exchange, in partnership with SageSure, has announced its expansion to the South Carolina commercial property market with its business owners policy (BOP) offering. SureChoice Underwriters Reciprocal Exchange is a policyholder-owned coastal insurer, and SageSure is a managing general underwriter focused on catastrophe-exposed markets. After launching its BOP program in ... Read the full article
SageSure and Anchor Re successfully close $50 million cat bond
24th July 2023
SageSure, a provider of catastrophe-exposed property insurance, and Anchor Re, a captive reinsurance vehicle, have jointly announced the successful closure of Anchor Re's debut $50 million catastrophe bond. The transaction, named Gateway Re Series 2023-3, was priced below the initial guidance, reflecting strong investor support. The cat bond provides multi-year retrocessional ... Read the full article
SageSure surpasses $1 billion in inforce premium and unveils new brand
21st June 2023
SageSure, a provider of catastrophe-exposed property insurance, has surpassed $1 billion in inforce premium and unveiled a new corporate brand to reflect its future ambitions. Since its establishment in 2009, SageSure has steadily expanded its operations, now serving 14 states and partnering with 11 highly rated carriers. With a robust distribution network ... Read the full article
SURE and SageSure close $100m cat bond to reinsure second and subsequent events
7th June 2023
SageSure, a provider of catastrophe-exposed property insurance, and SureChoice Underwriters Reciprocal Exchange, a policyholder-owned insurer, have 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% from the transaction’s initial $75 million target, with pricing more ... Read the full article
SageSure announces $250 million equity investment led by Amwins and Flexpoint Ford
16th May 2023
SageSure, a provider of catastrophe-exposed property insurance, has successfully closed a $250 million equity investment round. The investment was led by Amwins, a prominent insurance broker, and Flexpoint Ford, a private equity firm, with participation from Ares Management Corporation. This capital infusion will facilitate SageSure's growth trajectory as it surpasses $1 billion ... Read the full article
SafePort and SageSure close $125m Gateway Re II debut cat bond
2nd May 2023
SafePort Insurance Company and SageSure have successfully closed on a $125 million Gateway Re II catastrophe bond, exceeding the initial target by 25% with pricing at the bottom end of initial guidance. "This newly formed cat bond program enables SafePort to meet the rising market demand for highly rated capacity in ... Read the full article
SageSure closes $50m revolving credit facility
29th March 2023
SageSure, a provider of catastrophe-exposed property insurance, has announced the close of a $50 million expanded revolving credit facility with its new commercial banking partner Wintrust Financial Corporation. SageSure says the funding will enable it to increase underwriting capacity in the catastrophe-exposed markets it currently serves. It will also support quota share ... Read the full article
SageSure and SURE close upsized $355m cat bond
22nd February 2023
Catastrophe-exposed property insurance provider SageSure and SureChoice Underwriters Reciprocal Exchange (SURE), a policyholder-owned coastal insurer, have announced the close of a $355 million Rule 144A catastrophe bond. At this size, the deal is 78% larger than the initial $200 million transaction target and represents the largest cat bond issuance to date ... Read the full article
SageSure and Gooshead partner up to launch Elevate
10th November 2022
Insurance provider SageSure and personal lines insurance agency Goosehead are to partner up and launch a reciprocal exchange called Elevate. The Texas-domiciled Elevate will look to protect homeowners in coastal states. It is exclusively available for distribution by Goosehead producers enrolled with SageSure, Elevate homeowners' insurance is developed, underwritten, and serviced by ... Read the full article
SURE & SageSure launch commercial protection in Louisiana
21st September 2022
SURE has announced its expansion into commercial insurance in Louisiana, with small and mid-sized Louisiana business owners now able to bundle general liability and commercial property coverage with SURE’s business owners policy (BOP), which is underwritten, distributed, and serviced by SageSure. SURE’s announcement follows the launch of its first commercial ... Read the full article
SageSure appoints John Lummis as EVP of Capital & Risk Management
1st September 2022
SageSure Insurance Managers, an independent US residential property managing general underwriter, has announced the appointment of John Lummis as Executive Vice President of Capital & Risk Management. Lummis will focus on enhancing SageSure’s insurance risk management capabilities across carrier portfolios and optimizing capital structure and efficiency. He will also lead further ... Read the full article
SURE picks up 14,000 FedNat homeowners policies in South Carolina
7th July 2022
SureChoice Underwriters Reciprocal Exchange (SURE), a carrier partner of insurtech company SageSure, has assumed more than 14,000 South Carolina homeowners policies from FedNat Insurance Company. This announcement comes after FedNat completed a £15m investment in Monarch as the Florida Office of Insurance regulation authorised the assumption of 78,000 policies between ... Read the full article
SURE and SageSure launch Texas BOP offering
30th June 2022
SureChoice Underwriters Reciprocal Exchange (SURE) has launched a business owners policy (BOP) aimed at small- and medium-sized businesses in Texas that combines property and general liability coverage. According to the announcement, this is SURE’s - a coastal property reciprocal insurer whose policies are exclusively available through insurtech company SageSure - first ... Read the full article
SageSure launches commercial insurance products for coastal businesses
21st October 2020
Insurtech company SageSure has announced the availability of a new line of commercial insurance products in underserved coastal markets. SageSure's new solutions will be launching in South Carolina followed by Florida, where its commercial product line will provide cover for over 300 classes of business in six industry groups, including office, ... Read the full article
SageSure names Paul VanderMarck as Chief Tech & Innovation Officer
3rd December 2019
SageSure Insurance Managers, an independent US residential property managing general underwriter, has announced the appointment of Paul VanderMarck as Chief Technology and Innovation Officer. In this role, VanderMarck will lead the teams responsible for SageSure's proprietary technology platform. He will also drive the company's broader innovation strategy, including developing partnerships with emerging ... Read the full article
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