SageSure and Auros Secure $100 Million in Catastrophe Bond Funding

SageSure, alongside 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, amounting to $100 million. This achievement not only marks a significant milestone in nearly halving the typical placement timeline but also cements SageSure's status as the seventh top catastrophe bond sponsor globally, with over $2.1 billion in cumulative notional limit. The latest issuance, following Auros' inaugural deal in April, saw strong execution with improved price guidance, reflecting investor confidence in the Gateway Re franchise.

Terrence McLean, President and CEO of SageSure, highlighted the strategic importance of insurance-linked securities (ILS) markets in their reinsurance programs, emphasizing the role of investor support in providing greater protection against peak perils. The Gateway Re 2025-3 Class A notes will offer protection for a single hurricane season to cedants Auros and Elevate across Louisiana, Mississippi, South Carolina, and Texas.

Travis Lewis, CEO of Auros Risk Management, expressed gratitude for the ILS market's confidence, which supports the responsible growth of their programs. Similarly, Ed Konar, President of Elevate Risk Management, noted the positive investor response to the catastrophe bond placement, underscoring the role of capital markets in enhancing reinsurance program resilience.

Swiss Re Capital Markets, serving as the sole structuring agent and bookrunner, played a pivotal role in the transaction. Jean-Louis Monnier, CEO of Swiss Re Capital Markets Corporation, praised the investor support for the transaction, attributing it to trust in SageSure's underwriting, claims, and risk management approach.