SageSure Closes $100 Million Gateway Re Series 2025-3 Catastrophe Bond

SageSure, in collaboration with Auros Reciprocal Insurance Exchange and Elevate Reciprocal Exchange, has announced the closure of the Gateway Re Series 2025-3 catastrophe bond at $100 million. This milestone positions SageSure as the seventh top catastrophe bond sponsor globally and reflects strong investor confidence in the Gateway Re franchise, demonstrated by the adjusted price guidance.

Terrence McLean, SageSure's President and CEO, emphasized the critical role of insurance-linked securities (ILS) markets in enhancing their reinsurance programs. The investor backing is pivotal in offering enhanced protection against peak perils and increasing 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 of Auros Risk Management and Ed Konar of Elevate Risk Management both acknowledged the ILS market's trust, which is instrumental in fostering responsible growth and reinforcing the robustness of their reinsurance strategies. Swiss Re Capital Markets, as the sole structuring agent and bookrunner, was key to the transaction's success. Jean-Louis Monnier, CEO of Swiss Re Capital Markets Corporation, commended the investor community's strong support, linking it to confidence in SageSure's comprehensive underwriting, claims, and risk management practices.