JERSEY CITY, NJ—March 10, 2026—SageSure, the largest residential property MGU in the US specializing in catastrophe-exposed markets and a top global sponsor of catastrophe bonds, today announced the close of its second reinsurance sidecar transaction with Seawall Re II Ltd. (“Seawall Re II”), securing $200 million in capital.

In conjunction with its carrier partners, SageSure programs are expected to secure approximately $7 billion of first event reinsurance limit in 2026.

Including the debut Seawall Re transaction in July 2025, the SageSure-sponsored sidecar platform has now secured $250 million in less than a year. This rapid expansion underscores SageSure’s pioneering role in the convergence of reinsurance capital and capital markets in the catastrophe risk space, a strategic priority as the company continues to mature the insurance-linked securities (ILS) asset class for institutional investors.

“SageSure is committed to building long-term investor relationships, and Seawall Re II is a direct reflection of that commitment,” said Terrence McLean, President and CEO of SageSure. “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.”

This transparency facilitates a quota share structure that creates alignment between capital providers, SageSure, and SageSure’s underwriting partners SURE, Elevate, SafeChoice, Auros, Interboro, and GeoVera Nova. Carrier partners benefit from incremental catastrophe capacity and reduced net risk positions, while capital providers gain access to a well-priced, well-managed, and diversified catastrophe risk portfolio.

GC Securities, a division of MMC Securities LLC, acted as the sole structuring and placement agent for the sidecar transaction. Willkie Farr & Gallagher LLP served as deal counsel.

“We’re proud to have partnered with SageSure on the Seawall Re platform since its inception,” said Liam Martens, Managing Director of GC Securities, a division of MMC Securities LLC. “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.”

About SageSure
SageSure is the largest residential property MGU in the US specializing in catastrophe-exposed markets. Dedicated to serving producers and carrier partners, SageSure provides highly differentiated residential and commercial solutions, innovative service and claims management, and market-leading buying experiences. A leader in catastrophe risk underwriting and exposure management, SageSure operates in 16 states, protects more than 970,000 policyholders, and manages more than $3.2 billion of inforce premium. For more information, visit sagesure.com.

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Media Contact:

Walker Sands
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JERSEY CITY, NJ—March 6, 2026—SageSure, the largest residential property MGU in the US specializing in catastrophe-exposed markets, and Auros Reciprocal Insurance Exchange (“Auros”), a policyholder-owned property insurance provider, today announced the successful close of the Gateway Re Ltd. Series 2026-2 catastrophe bond for $175 million, further solidifying SageSure’s position as a global leader in the insurance-linked securities (ILS) space. Following the recent $670 million Gateway Re 2026-1 transaction, SageSure recently achieved the position as the top three largest catastrophe bond sponsor globally, with ~$3 billion in outstanding notional limit.

With pricing finalized below initial guidance for the Class A Notes and within initial guidance for the Class B Notes, the Gateway Re 2026-2 transaction achieved highly favorable execution, signaling continued investor confidence in the SageSure-supported franchise. The strong pricing execution reflects the maturing relationship between SageSure and the ILS community, as the company moves to cover a broader array of secondary perils across the reinsurance tower.

“The success of this issuance is a testament to the transparency and performance of our underwriting platform,” said Terrence McLean, President and CEO of SageSure. “Achieving this level of execution allows us to maintain a competitive edge while securing the long-term, multi-year capacity necessary to protect policyholders in dynamic coastal markets. We are grateful for the continued investor confidence in both our mission and our outperformance.”

The transaction represents further expansion of the Gateway Re franchise, securing multi-peril indemnity protection for both Auros and Interboro Insurance Company (together with Auros, the “ceding insurer”) across six key states initially. The deal achieved significant efficiency—especially notable with the inclusion of secondary perils like wildfires and severe thunderstorms, which typically command higher premiums in the reinsurance/ILS markets.

“The reception from the capital markets for this transaction confirms that investors value the diversification and technical rigor Auros and SageSure bring to the table,” said Travis Lewis, CEO of Auros Risk Management. “With this issuance, we ensure stable, high-quality protection for our members through 2029.”

The issuance provides three years of protection, starting July 1, 2026, covering losses in Florida, Louisiana, Mississippi, New York, South Carolina, and Texas. Swiss Re Capital Markets Corporation acted as the sole structuring agent and bookrunner for the transaction.

“Swiss Re is pleased to have supported SageSure, Auros, and Interboro in further diversifying their capital sources through this latest Gateway Re issuance,” said Jean-Louis Monnier, CEO of Swiss Re Capital Markets Corporation. “The strong market reception and favorable pricing reflect investors’ confidence in SageSure and Auros’ growth strategy and their established track record. By expanding the peril set while achieving such efficient execution, SageSure and the ceding insurer have benefited from the growing depth of the ILS market’s appetite for well-structured, multi-peril risk.”

About SageSure
SageSure is the largest residential property MGU in the US specializing in catastrophe-exposed markets. Dedicated to serving producers and carrier partners, SageSure provides highly differentiated residential and commercial solutions, innovative service and claims management, and market-leading buying experiences. A leader in catastrophe risk underwriting and exposure management, SageSure operates in 16 states, protects more than 970,000 policyholders, and manages more than $3.2 billion of inforce premium. For more information, visit sagesure.com.

About Auros
Auros Reciprocal Insurance Exchange (Auros) creates exceptional experiences and customized solutions for coastal homeowners. Managed by a team of seasoned industry leaders who ensure alignment with policyholder interests, Auros brings competitive pricing, outstanding protection, and catastrophe risk expertise to the markets it serves, including Louisiana, Mississippi, and Texas. Exclusively available through SageSure, Auros is expanding to meet the high demand for its solutions while maintaining the strong financial outlook indicated by its rating of A, Exceptional, by Demotech, Inc. To learn more, visit aurosins.com.

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Media Contact:

Walker Sands
[email protected]

JERSEY CITY, NJ—February 19, 2026—SageSure Holdings, LLC (“SageSure”), the largest residential property MGU in the US specializing in catastrophe-exposed markets, and SureChoice Underwriters Reciprocal Exchange (“SURE”), a member-owned reciprocal exchange, today announced the successful close of the Gateway Re Ltd. Series 2026-1 catastrophe bond at an original principal amount of $670 million, the franchise’s largest issuance to date. All five tranches priced within initial guidance, signaling strong investor trust in the Gateway Re series.

With the close of this transaction, SageSure-supported franchises have $3.1 billion in outstanding notional limit, solidifying SageSure’s place as the third largest catastrophe bond sponsor in the world.

Building on the $520 million Gateway Re Series 2025-1 catastrophe bond which has provided valuable named storm coverage since risk inception last year, the Gateway Re 2026-1 issuance is the first to significantly broaden the franchise’s peril base. In addition to named storms, it provides coverage for earthquakes, severe thunderstorms, winter storms, and wildfires across all eligible states for SURE, Elevate Reciprocal Exchange, and SafeChoice Insurance Company.

“We are grateful for the strong investor support for the Gateway Re series. This issuance exemplifies the important role of capital markets within our broader reinsurance strategy to support our growth,” said Ed Konar, President of SURE. “We look forward to expanding our programs with SageSure to bring stable capacity to more catastrophe-exposed communities.”

Terrence McLean, President and CEO of SageSure, added, “SageSure is proud to be a champion of the expansion of ILS and the cat bond market. This $670 million in capacity is not only the largest in our program’s history but also a signal that the Gateway Re franchise has become a cornerstone of the global ILS market. SageSure will continue to innovate in the ILS and cat bond markets so that we can bring the most competitive products to market.”

Swiss Re Capital Markets Corporation acted as the sole structuring agent and bookrunner for the transaction.

“This transaction marks a significant milestone for the Gateway Re franchise,” said Jean-Louis Monnier, CEO of Swiss Re Capital Markets Corporation. “The scale of this transaction combined with the successful inclusion of secondary perils across different risk layers further demonstrates investors’ appreciation for SageSure’s transparency and underwriting discipline and positions ILS as a core component of their reinsurance strategy.”

About SageSure
SageSure is the largest residential property MGU in the US specializing in catastrophe-exposed markets. Dedicated to serving producers and carrier partners, SageSure provides highly differentiated residential and commercial solutions, innovative service and claims management, and market-leading buying experiences. A leader in catastrophe risk underwriting and exposure management, SageSure operates in 16 states, protects more than 970,000 policyholders, and manages more than $3.2 billion of inforce premium. For more information, visit sagesure.com.

About SURE
SURE is the member-owned insurance company for reliable coastal property protection. Managed by a team of experienced and passionate insurance leaders who believe in building a safer world one coastal property at a time, SURE has grown rapidly to meet the needs of challenging markets while prudently managing exposure. As the first Texas-domiciled reciprocal since 2004, SURE is customer-focused by design and offers homeowners, dwelling fire, flood, and commercial coverage through an exclusive partnership with SageSure. SURE is rated A, Exceptional, by Demotech, Inc., has more than 320,000 policyholders and $970 million of inforce premium to date. For more information, visit sureins.com.

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Media Contact:

Walker Sands
[email protected]

FAIRFIELD, CA—January 20, 2026—SageSure Holdings, LLC (“SageSure”), the largest residential property MGU in the US specializing in catastrophe-exposed markets, and GeoVera Nova Holdings, Inc. (“GeoVera Nova”), a leader in earthquake, wind, and residential and commercial property insurance solutions, today announced the successful close of the inaugural Meritage Re Ltd. Series 2026-1 catastrophe bond at $200 million. The bond was met with strong investor demand, allowing the transaction to price significantly tighter than initial guidance.

In addition to being the first issuance from Meritage Re, a newly established Bermuda special purpose vehicle, it is also the first US named storm catastrophe bond for the three ceding companies GeoVera Nova oversees. It will provide protection for SageSure’s carrier partners GeoVera Insurance Company, GeoVera Specialty Insurance Company, and Safeport Insurance Company against certain US named storm losses over a three-year period.

“We are grateful for the strong investor response to the first Meritage Re issuance. This catastrophe bond supports the growth of GeoVera Nova’s insurance companies to meet the continued demand for our differentiated solutions,” said John Forney, President and CEO of GeoVera Nova. “By leveraging capital markets for hurricane protection, we are further diversifying our reinsurance program and strengthening our ability to provide stable, reliable capacity in catastrophe-prone regions.”

“We are pleased to see the ILS market’s confidence in the GeoVera Nova and SageSure partnership,” said Terry McLean, President and CEO of SageSure. “Capital markets continue to enhance the resilience of our programs and position our carrier partners for long-term stability and success.”

Swiss Re Capital Markets Corporation acted as the sole structuring agent and bookrunner for the transaction.

“Strong investor interest for the Meritage Re issuance led to pricing well below the initial guidance,” said Jean-Louis Monnier, CEO of Swiss Re Capital Markets Corporation. “This transaction highlights the market’s recognition of the quality of GeoVera Nova’s portfolio and its confidence in SageSure’s underwriting and claims handling platform.”

About SageSure
SageSure is the largest residential property MGU in the US specializing in catastrophe-exposed markets. Dedicated to serving producers and carrier partners, SageSure provides highly differentiated residential and commercial solutions, innovative service and claims management, and market-leading buying experiences. A leader in catastrophe risk underwriting and exposure management, SageSure operates in 16 states, protects more than 970,000 policyholders, and manages more than $3.2 billion of inforce premium. For more information, visit sagesure.com.

About GeoVera Nova
GeoVera Nova oversees the strategic growth and management of four property insurance subsidiaries: GeoVera Insurance Company, GeoVera Specialty Insurance Company, Coastal Select Insurance Company, and SafePort Insurance Company. GeoVera Nova’s insurance companies maintain a Financial Strength Rating of “A” (Excellent) from AM Best and specialize in protecting catastrophe-exposed properties in earthquake and wind markets. Led by an experienced management team with a track record of driving capital efficiency and strong performance, GeoVera Nova is headquartered in Fairfield, California. For more information, visit geoveranova.com.

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Media Contact:

Walker Sands
[email protected]

JERSEY CITY, NJ—January 5, 2026—SageSure, the largest residential property MGU in the US specializing in catastrophe-exposed markets, announced today that it has completed the acquisition of Gemini Financial Holdings Corporation (“Gemini Financial”) and its Olympus subsidiaries (“Olympus”), one of the leading underwriting franchises in Florida. The transaction was originally announced on September 10, 2025, and closed on January 2, 2026.

As part of the transaction, Valence Insurance Holdings, the parent company of SageSure’s carrier partners Auros and Interboro Insurance, has acquired Olympus Insurance Company.

“SageSure is proud to join forces with Olympus and build on its success in the Florida admitted homeowners market,” said Terrence McLean, President and CEO of SageSure. “This milestone enables our businesses to leverage complementary capabilities and drive growth in the mass affluent homeowners segment. Together, we’ll continue to deliver market-leading, highly differentiated solutions for our customers.”

As a result of the acquisition, SageSure now manages a combined ~130,000 inforce policies, ~$700 million in gross written premium, and a network of ~1,500 independent agents across the state of Florida.

In recent years, Olympus has shifted its focus to the mass affluent homeowners segment, expanding coverage offerings and building a best-in-class elite repair program.

Tim Stroble, CEO of Olympus Insurance, said, “Olympus is excited to have found a strategic partner in SageSure, whose catastrophe risk underwriting capabilities and innovative solutions we’ve long admired. With SageSure’s support, we look forward to continuing to exceed customer expectations and accelerate our growth in the evolving Florida market.”
SageSure’s existing debt facility with long-standing capital partner Ares Management was expanded to support the acquisition.

Goldman Sachs & Co. LLC served as exclusive financial advisor to SageSure on the transaction, and Willkie Farr & Gallagher LLP served as SageSure’s legal counsel.
Evercore Group L.L.C. served as exclusive financial advisor to Gemini Financial on the transaction, and Eversheds Sutherland LLP served as Gemini Financial’s legal counsel.

About SageSure
SageSure is the largest residential property managing general underwriter in the US specializing in catastrophe-exposed markets. Dedicated to serving producers and carrier partners, SageSure provides highly differentiated residential and commercial solutions, innovative service and claims management, and market-leading buying experiences. A leader in catastrophe risk underwriting and exposure management, SageSure operates in 16 states, protects more than 970,000 policyholders, and manages more than $3.2 billion of inforce premium. For more information, visit sagesure.com.

About Olympus Insurance
Olympus Insurance Company specializes in residential property insurance, insuring residential and investment properties, including homes, condos, rental properties, and personal property. With service, simplicity, and accountability as the company’s core values, Olympus’ mission is to deliver an insurance experience that people deserve by offering customer-focused, comprehensive, and reliable property insurance to Floridians. For more information, visit olympusinsurance.com.

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Media Contact:

Walker Sands
[email protected]

JERSEY CITY, NJ—December 1, 2025—SageSure, one of the largest managing general underwriters in the US focused on catastrophe-exposed markets, today announced the appointment of John Sence as Chief Sales Officer. Sence joins from the Cincinnati Insurance Companies where he most recently served as Vice President of Personal Lines National Sales, bringing decades of experience in carrier and agency leadership to his new role with SageSure.

He will oversee sales strategy, distribution expansion, and high-impact producer engagement, reinforcing SageSure’s commitment to driving growth and success with its partners.

“We’re thrilled to welcome John to our executive team,” said Tammy Nelson, Chief Marketing Officer at SageSure. “He’s a proven leader with an exceptional track record of optimizing agency performance. With deep experience on both the agency and carrier sides of the business, he knows how to help producers grow their book and how to foster long-term, impactful relationships.”

The role emphasizes SageSure’s strategic focus on delivering a market-leading buying experience for producers. From new business onboarding to claims, the organization has invested significantly in system enhancements, new capabilities in earthquake and wildfire, and expansion in mass-affluent segments.

“Having known John for 30 years, I believe he is uniquely positioned to lead SageSure’s growth from $3 billion in inforce premium to more than double in the next several years,” said Terrence McLean, President and CEO of SageSure. “What SageSure offers is truly differentiated in our markets and compelling for our distributors, and John is the right leader to amplify that message.”

Before joining SageSure, Sence led national sales with responsibility for growth across 45 states, focusing on middle and high-net-worth markets at the Cincinnati Insurance Companies. Sence’s career is distinguished by his dual experience in both underwriting and agency operations. He spent 14 years in the independent agency system, where he built his own book of business and managed sales teams.

“I’m excited to strengthen SageSure’s collaboration with producer partners so we can deliver more value,” said John Sence. “It’s my goal to provide exceptional service and help our partners succeed. I look forward to helping them unlock opportunities for growth and profitability.”

About SageSure 

SageSure is one of the largest managing general underwriters focused on catastrophe-exposed property in the US. Dedicated to serving producers and carrier partners, SageSure provides highly differentiated residential and commercial solutions, innovative service and claims management, and market-leading buying experiences. A leader in catastrophe risk underwriting and exposure management, SageSure operates in 16 states, protects more than 890,000 policyholders, and manages more than $2.6 billion of inforce premium. To learn more, visit sagesure.com.

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Media Contact:

Walker Sands
[email protected]

JERSEY CITY, NJ—November 18, 2025——SageSure, one of the largest managing general underwriters in the US focused on catastrophe-exposed markets, today announced its approval as an official Coverholder and Delegated Claims Administrator (DCA) by Lloyd’s of London (“Lloyd’s”), the world’s leading marketplace for insurance and reinsurance.

As a Coverholder, SageSure will now underwrite policies issued by Trium Syndicate 1322 at Lloyd’s, rated “A+” (Superior) by AM Best. Under the binding authority agreement, SageSure will build a portfolio focused on homeowners business in catastrophe-exposed markets.

“Becoming a Lloyd’s Coverholder and Delegated Claims Administrator is a significant milestone for SageSure,” said Terrence McLean, President and CEO of SageSure. “We are excited to partner with Trium Syndicate 1322 at Lloyd’s with the approval of a marketplace our producers and policyholders trust.”

The binding authority granted as a Coverholder enhances operational capabilities and enables significant expansion in capacity backed by the global reputation and financial strength of Lloyd’s. In addition to its role as Coverholder, SageSure’s DCA status enhances the delivery of sophisticated claims experiences to the benefit of syndicates and policyholders.

Dave Rock, Trium Chief Claims Officer, said, “Trium is thrilled to partner with SageSure to deploy specialized risk capacity and innovative claims services in underserved insurance markets. We look forward to a strong partnership that enhances the policyholder experience with accurate and efficient claims handling and superior customer service.”

“Our partnership with SageSure brings together deep underwriting expertise and broad market access, enabling us to expand and diversify our catastrophe property portfolio,” said Brandon Beauregard, Trium’s Chief Underwriting Officer for Property. “By combining SageSure’s distribution strength with the global credibility of Lloyd’s Syndicate 1322, we’re delivering meaningful capacity and resilience to underserved, high-risk markets.”

SageSure’s new homeowners program issued by Trium Syndicate 1322 at Lloyd’s is now available in Louisiana, New York, North Carolina, South Carolina, and Texas.

About SageSure 

SageSure is one of the largest managing general underwriters focused on catastrophe-exposed property in the US. Dedicated to serving producers and carrier partners, SageSure provides highly differentiated residential and commercial solutions, innovative service and claims management, and market-leading buying experiences. A leader in catastrophe risk underwriting and exposure management, SageSure operates in 16 states, protects more than 890,000 policyholders, and manages more than $2.6 billion of inforce premium. To learn more, visit sagesure.com.

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Media Contact:

Walker Sands
[email protected]

JERSEY CITY, NJ—September 30, 2025—SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, has been recognized as the 2025 Insurance Insider US Honors Property Catastrophe Underwriting Team of the Year. The honor marks SageSure’s third consecutive year of receiving this award, which recognizes a property catastrophe team that has demonstrated consistent high-quality management, entrepreneurialism, and outstanding underwriting performance.

“I am very proud of SageSure’s underwriting team that continues to rise to the occasion, executing our rigorous underwriting standards and delivering strong underwriting results for carrier partners,” said Terrence McLean, President and CEO of SageSure. “SageSure inspects 100% of new business, meaning our underwriting team processes more than 250,000 inspections a year. Their diligence behind the scenes has been a key enabler of SageSure’s continued growth in catastrophe-exposed markets.”

SageSure was also shortlisted for two other 2025 Insurance Insider US Honors awards: MGA/MGU of the Year and M&A Transaction of the Year for its acquisition of GeoVera.

This latest recognition adds to a growing list of industry accolades. Earlier this year, SageSure was named the 2025 Insurance Insider ILS (Re)Insurer/Sponsor of the Year in recognition of its success in demonstrating how the ILS market can effectively serve the growing MGU market, a strong track record in catastrophe risk management, and innovative use of catastrophe bonds.

SageSure was also recognized by Inc. 5000 as one of the fastest-growing private companies in the nation, increasing its ranking by 38% from its 2023 position.

About SageSure 

SageSure is one of the largest managing general underwriters focused on catastrophe-exposed property in the US. Dedicated to serving producers and carrier partners, SageSure provides highly differentiated residential and commercial solutions, innovative service and claims management, and market-leading buying experiences. A leader in catastrophe risk underwriting and exposure management, SageSure operates in 16 states, protects more than 850,000 policyholders, and manages more than $2.5 billion of inforce premium. For more information, visit sagesure.com.

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Media Contact:

Walker Sands
[email protected]

JERSEY CITY, NJ—September 10, 2025—SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, announced today that it has entered into a definitive agreement to acquire Gemini Financial Holdings Corporation (“Gemini Financial”) and its subsidiaries, including Olympus MGA Corp. (“Olympus MGA”). Olympus MGA, one of the top underwriting franchises in Florida, is the managing general agent for Olympus Insurance Company (“Olympus Insurance”), a leading Florida property insurer that serves the mass-affluent homeowners segment.

As part of the transaction, Valence Insurance Holdings, the parent company of SageSure’s carrier partners Auros and Interboro Insurance, will acquire Olympus Insurance and captive reinsurer Radiant, Ltd.

The strategic acquisition will enhance SageSure’s position in the Florida property insurance market, resulting in a combined ~130,000 inforce policies, ~$700 million in gross written premium, and a network of ~1,500 independent agents across the state.

“It takes extreme discipline, strategy, and differentiation to succeed in the Florida market of the last several years as Olympus has,” said Terrence McLean, President and CEO of SageSure. “With a management team committed to serving the specific needs of the mass-affluent homeowners segment, a highly differentiated claims experience, and a track record of exceptional financial performance, Olympus is a strong strategic fit for SageSure. What’s even more impressive is that Olympus was able to deliver these results prior to Florida’s recent legislative changes. We look forward to continuing Olympus’ winning strategy together.”

Tim Stroble, CEO of Olympus, said, “Our company’s purpose is to deliver the superior insurance experiences people deserve, and we see that mission reflected in SageSure’s market leadership. We are excited for this new chapter with SageSure that will further enhance Olympus’ performance, growth, and stability in one of the most complex insurance markets in the US.”

SageSure’s existing debt facility with long-standing capital partner Ares Management will expand to support the acquisition.

Goldman Sachs & Co. LLC is serving as exclusive financial advisor to SageSure on the transaction, with Willkie Farr & Gallagher LLP serving as SageSure’s legal counsel.

Evercore Group L.L.C. is serving as exclusive financial advisor to Gemini Financial on the transaction, with Eversheds Sutherland LLP serving as Gemini Financial’s legal counsel.

The transaction is expected to close in the first quarter of 2026, subject to the receipt of required regulatory approvals and other customary closing conditions.

About SageSure
SageSure is one of the largest managing general underwriters focused on catastrophe-exposed property in the US. Dedicated to serving producers and carrier partners, SageSure provides highly differentiated residential and commercial solutions, innovative service and claims management, and market-leading buying experiences. A leader in catastrophe risk underwriting and exposure management, SageSure operates in 16 states, protects more than 850,000 policyholders, and manages more than $2.5 billion of inforce premium. For more information, visit sagesure.com.

About Olympus Insurance
Olympus Insurance Company specializes in residential property insurance, insuring residential and investment properties, including homes, condos, rental properties, and personal property. With service, simplicity, and accountability as the company’s core values, Olympus’ mission is to deliver an insurance experience that people deserve by offering customer-focused, comprehensive, and reliable property insurance to Floridians. The company is a wholly owned subsidiary of Gemini Financial Holdings Corporation. For more information, visit olympusinsurance.com.

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Media Contact:

Walker Sands
[email protected]

JERSEY CITY, NJ—July 29, 2025—SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, and Anchor Re, a captive reinsurance vehicle, have secured $50 million of third-party capital with the debut reinsurance sidecar transaction with Seawall Re Ltd. (“Seawall Re”), a Bermuda-based special purpose insurer (SPI).

With the formation of the Seawall Re sidecar, SageSure enables an efficient way for capital market investors to participate in its profitable underwriting results driven by industry-leading catastrophe risk underwriting, claims, and portfolio management. SageSure produces business for multiple carrier partners that cede risk to Anchor Re, resulting in an attractive and stable catastrophe risk profile already insulated by quota share and catastrophe excess of loss (XOL) agreements with Anchor Re.

“SageSure is excited to continue diversifying capacity solutions that support our growing underwriting operations in catastrophe-exposed markets,” said Terrence McLean, President and CEO of SageSure. “The sidecar provides extra protection for Anchor Re and our carrier partners while directly connecting third-party capital to a stable risk profile expected to generate positive returns. We are grateful for the strong investor support for this transaction.”

With a “losses occurring during” (LOD) quota share structure, the transaction provides retrocessional protection for Anchor Re for the 2025-2026 treaty year. Four of SageSure’s carrier partners—SureChoice Underwriters Reciprocal Exchange (“SURE”), SafeChoice Insurance Company (“SafeChoice”), Auros Reciprocal Insurance Exchange (“Auros”), Elevate Reciprocal Exchange (“Elevate”)—benefit from this extra capacity.

“The inaugural Seawall Re sidecar transaction is a significant milestone in our partnership with SageSure,” said Travis Lewis, Director of Anchor Re. “SageSure’s diligent underwriting and portfolio management have resulted in an appealing risk profile we believe is difficult to replicate. We’re grateful for the investor trust in our growth and success.”

GC Securities, a division of MMC Securities LLC, acted as the sole structuring and placement agent for the sidecar transaction.

“We’re proud to have supported SageSure and Anchor Re in the debut Seawall Re sidecar issuance,” said Liam Martens, Managing Director of GC Securities. “The strong execution signals that SageSure’s differentiated catastrophe risk underwriting and portfolio management approach resonates with investors.”

About SageSure
SageSure is one of the largest managing general underwriters focused on catastrophe-exposed property in the US. Dedicated to serving producers and carrier partners, SageSure provides highly differentiated residential and commercial solutions, innovative service and claims management, and market-leading buying experiences. A leader in catastrophe risk underwriting and exposure management, SageSure operates in 16 states, protects more than 850,000 policyholders, and manages more than $2.5 billion of inforce premium. For more information, visit sagesure.com.

About Anchor Re
Founded in 2020, Anchor Re is an Arizona-domiciled captive reinsurer that provides scalable capacity exclusively for SageSure’s carrier partners.

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Media Contact:

Walker Sands
[email protected]