SageSure and Auros Close $100 Million Catastrophe Bond with Broad Market Support
SageSure's position as one of the leading global catastrophe bond sponsors demonstrates the strategic role of ILS markets in our carrier partners' reinsurance programs.
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Following Auros' inaugural catastrophe bond deal in April, the latest issuance achieved strong execution with lowered and narrowed price guidance, indicating investor confidence in the Gateway Re franchise.
'SageSure's position as one of the leading global catastrophe bond sponsors demonstrates the strategic role of ILS markets in our carrier partners' reinsurance programs,' said Terrence McLean, President and CEO of SageSure. 'We are grateful for the investor support that enables greater protection against peak perils and greater capacity in the catastrophe-exposed states we serve.'
The Gateway Re 2025-3 Class A notes will provide protection across a single hurricane season for cedants Auros and Elevate in Louisiana, Mississippi, South Carolina, and Texas.
'Auros is honored to partner with SageSure to strengthen the protection of our programs and our policyholders,' said Travis Lewis, CEO of Auros Risk Management. 'We are grateful for the ILS market's confidence and look forward to the responsible growth this issuance will support.'
Ed Konar, President of Elevate Risk Management, added, 'We are excited by the positive response from the investor community to this catastrophe bond placement. Capital markets continue to enhance the resilience of our reinsurance program.'
As with previous Gateway Re transactions, Swiss Re Capital Markets acted as the sole structuring agent and bookrunner for the transaction.
'We are proud to have partnered with SageSure, Auros, and Elevate in the successful execution of the eleventh Gateway Re catastrophe bond issuance,' said Jean-Louis Monnier, CEO of Swiss Re Capital Markets Corporation. 'The overwhelming support from investors for a transaction announced later in the issuance season is a testament to the trust that investors have in SageSure's differentiated approach to underwriting, claims, and risk management.'
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 Auros
Auros Reciprocal Insurance Exchange (Auros) creates differentiated 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.
About Elevate
Elevate Reciprocal Exchange (Elevate) delivers industry-leading protection for coastal homeowners, providing customizable coverage, competitive rates, and high-quality service throughout the policy lifecycle. Exclusively distributed through Goosehead in partnership with SageSure, Elevate serves regions where reliable coverage is needed most, including Louisiana, South Carolina, and Texas. Elevate is rated A, Exceptional, by Demotech, Inc., indicating the necessary financial stability to protect its policyholder members. To learn more, visit elevatein.com.
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