SageSure Secures $100 Million in Catastrophe Bond Closure, Reinforcing Investor Confidence

SageSure, in collaboration with its carrier partners Auros Reciprocal Insurance Exchange and Elevate Reciprocal Exchange, has announced the successful closure of the Gateway Re Series 2025-3 catastrophe bond, securing $100 million. This milestone not only positions SageSure as the seventh top catastrophe bond sponsor globally but also reflects strong investor confidence in the Gateway Re franchise, as indicated by the adjusted price guidance.

Terrence McLean, President and CEO of SageSure, emphasized the critical role of insurance-linked securities (ILS) markets in enhancing their reinsurance programs. The investor backing is pivotal in offering increased protection against peak perils and expanding capacity in states prone to high risks. The Gateway Re 2025-3 Class A notes are designed to provide coverage for a single hurricane season, benefiting cedants Auros and Elevate in Louisiana, Mississippi, South Carolina, and Texas.

Travis Lewis, CEO of Auros Risk Management, acknowledged the ILS market's trust, which is anticipated to facilitate responsible expansion. Ed Konar, President of Elevate Risk Management, also recognized the investor community's favorable response, which strengthens the robustness of their reinsurance strategy.

Swiss Re Capital Markets was instrumental in this transaction as the sole structuring agent and bookrunner. Jean-Louis Monnier, CEO of Swiss Re Capital Markets Corporation, commended the significant investor support, linking it to the confidence in SageSure's comprehensive approach to underwriting, claims, and risk management.