SageSure, a residential property managing general underwriter specializing in catastrophe-exposed markets, announced the closing of its second reinsurance sidecar transaction through Seawall Re II Ltd., securing $200 million in capital.
The transaction expands SageSure’s Seawall Re sidecar franchise and further strengthens the company’s position in the insurance-linked securities market. The sidecar structure enables institutional investors to participate in catastrophe risk underwriting while providing additional reinsurance capacity to SageSure’s carrier partners.
SageSure said the expanded platform reinforces its role in connecting capital markets with property catastrophe risk portfolios. Including the initial Seawall Re sidecar launched in July 2025, the company’s sidecar platform has now secured $250 million in capital in under a year.
In conjunction with its carrier partners, SageSure programs are expected to secure approximately $7 billion in first-event reinsurance limit in 2026. The capital raised through Seawall Re II will support quota share reinsurance arrangements designed to align the interests of investors, SageSure, and participating insurers.
The quota share structure allows carrier partners, including SURE, Elevate, SafeChoice, Auros, Interboro, and GeoVera Nova, to access additional catastrophe reinsurance capacity while reducing their net exposure to catastrophic risk events.
For investors, the structure provides access to a diversified portfolio of catastrophe risk backed by SageSure’s underwriting and data analytics capabilities. The company said its approach emphasizes transparency, proactive reporting, and data-driven underwriting to attract institutional capital to the insurance-linked securities market.
GC Securities, a division of MMC Securities LLC, served as the sole structuring and placement agent for the transaction. Willkie Farr & Gallagher LLP acted as legal counsel for the deal.
SageSure operates in 16 states and manages more than $3.2 billion in inforce premium across its residential and commercial insurance programs. The company protects more than 970,000 policyholders and focuses on providing insurance solutions for regions exposed to natural catastrophe risks.
KEY QUOTES:
“SageSure is committed to building long-term investor relationships, and Seawall Re II is a direct reflection of that commitment. We believe that the future of catastrophe risk management lies in the ability to provide investors with a transparent, data-driven gateway to profitable underwriting results. We look forward to continuing to build investor trust with high-quality data, proactive reporting, and sustained outperformance.”
Terrence McLean, President And CEO, SageSure
“We’re proud to have partnered with SageSure on the Seawall Re platform since its inception. The strong investor response signals SageSure’s differentiated approach to catastrophe risk management is highly attractive to the capital markets. We look forward to building on this momentum as the Seawall Re franchise scales.”
Liam Martens, Managing Director, GC Securities (Division Of MMC Securities LLC)
