SageSure, the expansive catastrophe exposed property underwriting specialist managing general underwriter (MGU), has received significant backing from two prime companies in the re/insurance and investments space, insurance origination and distribution specialist Amwins and private investor Flexpoint Ford.
SageSure has announced the successful close of a $250 million equity investment, led by Amwins and Flexpoint Ford, with participation from Ares Management Corporation.
This deal brings an opportunity to partially recapitalise SageSure’s long-term minority stakeholders, while bringing in experienced strategic and financial investors.
Amwins and Flexpoint Ford will each appoint a representative to the SageSure Board of Managers, the company explained, as it looks to continue its growth beyond the landmark $1 billion of inforce premium it has recently hit.
“By deploying capital efficiently throughout its ecosystem, SageSure’s strategy supports its carrier partners and producers by creating additional underwriting capacity in an otherwise challenging environment for catastrophe-exposed property risk,” the company said.
“SageSure is excited to include Amwins and Flexpoint Ford among our sophisticated capital…