- SageSure announced it raised $50 million in funding.
SageSure – a leader of catastrophe-exposed property insurance – announced the closing of a $50 million expanded revolving credit facility with its new commercial banking partner Wintrust Financial Corporation. This funding round will enable SageSure to increase underwriting capacity in the catastrophe-exposed markets it currently serves.
This facility will support quota share capacity with Anchor Re, a captive reinsurance vehicle (on behalf of SageSure carrier partners). And supporting its carrier partners’ reinsurance placements has been a key part of SageSure’s strategy in navigating the hardest property catastrophe reinsurance market in the last 30 years.
KEY QUOTES:
“Despite challenging market conditions, SageSure has maintained a track record of responsible growth that benefits our producers, carrier partners, and policyholders. We are excited to include Wintrust among our outstanding capital partners that support SageSure’s mission to be a long-term provider of underwriting capacity in underserved markets.”
— Terrence McLean, CEO of SageSure
“Wintrust is proud to provide a thoughtful financing solution that supports SageSure’s future growth and continued innovation. We look forward to being a strategic partner to SageSure for years to come.”
— Lena Dawson, President of Wintrust Insurance Banking, a division of Lake Forest Bank & Trust Company, N.A., a Wintrust Community Bank
