Insurance firm SageSure and partners finalize $100 million catastrophe bond deal
In a significant move, SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, has strengthened its position in the global catastrophe bond market. The company has recently completed its eleventh catastrophe bond transaction in 2025, adding to its impressive Gateway Re series.
The latest issuance, the Gateway Re Series 2025-3, was executed with strong investor support and lowered and narrowed price guidance, indicating a high level of confidence in the Gateway Re franchise. This transaction, worth $100 million, has contributed to SageSure's cumulative notional limit, which now stands at over $2.4 billion[1][2][4].
SageSure's CEO, Terrence McLean, has emphasised the strategic role of insurance-linked securities (ILS) in their reinsurance programs. He stated that the completion of the Gateway Re Series 2025-3 demonstrates SageSure's leadership position in the global catastrophe bond market[1][2].
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.
The company's top catastrophe bond sponsor status was also acknowledged by SageSure's partners. Ed Konar, President of Elevate Risk Management, expressed gratitude for the ILS market's confidence and looked forward to the responsible growth this issuance will support. Travis Lewis, CEO of Auros Risk Management, thanked the investor community for their support, enabling greater protection against peak perils and greater capacity in the catastrophe-exposed states served by SageSure[1][2][4].
Swiss Re Capital Markets acted as the sole structuring agent and bookrunner for the Gateway Re Series 2025-3 transaction. The company has also played a similar role in the Gateway Re Series 2025-2 and Gateway Re Series 2025-1 transactions, which have added $150 million and $520 million respectively to SageSure's cumulative notional limit, making it over $3 billion[1][2][4].
SageSure's strong performance in the catastrophe bond market has earned it a seventh place ranking worldwide in terms of total notional outstanding for catastrophe bond sponsors[1][2][4]. The company's commitment to responsible growth and strategic partnerships is expected to further solidify its position in the global catastrophe bond market.
[1] Swiss Re [2] SageSure [4] Artemis
SageSure's catastrophe bond transaction, the Gateway Re Series 2025-3, showcases the company's strong position in the reinsurance industry, given its role in the finance sector and its participation in the events-based reinsurance market. The successful execution of this transaction, worth $100 million, reinforces SageSure's leadership in the global catastrophe bond market, which now stands at over $3 billion, according to Swiss Re and Artemis.
