SageSure, a managing general agent focused on catastrophe-prone markets, picked up a major upgrade. The U.S. managing general underwriter, long fixated on catastrophe-exposed markets, secured Lloyd’s approval as both a coverholder and a delegated claims administrator. Big step, maybe overdue.
As a coverholder, SageSure will underwrite policies issued by Trium Syndicate 1322 at Lloyd’s.
The company said it plans to build a homeowners portfolio in high risk regions, leaning into the kind of volatility it already knows inside out. A straightforward plan, though the scale could grow fast.
Terrence McClean, SageSure’s chief, called the approval a significant milestone. Short comment, plenty baked into it. The binding authority strengthens operations and boosts capacity, helped by Lloyd’s reputation and financial clout.
SageSure’s DCA status also lifts its ability to deliver sharper, more sophisticated claims experiences for both syndicates and policyholders. Some MGUs talk about this stuff; SageSure seems ready to actually run it.
The new homeowners program tied to Trium Syndicate 1322 is live in Louisiana, New York, North Carolina, South Carolina, and Texas. Five states, five very different risk profiles. Good luck, but also good timing.
One day earlier, another move hit the Lloyd’s ecosystem. Dale Underwriting Partners and K2 Insurance Services secured in-principle approval for Syndicate 1954, a special purpose arrangement. Dale Managing Agency will run it, hosted by Dale Syndicate 1729.
The SPA expects to write £80mn in gross written premium in 2026, with Dale holding 40%. Clean structure, decent size, and maybe a hint of more to come.
In January, SageSure has completed its acquisition of GeoVera Advantage Insurance Services, an earthquake risk underwriter.
GeoVera Advantage will now operate as a newly formed MGA, including its earthquake risk underwriting franchise. The deal, originally announced in April 2024, marks a significant step in SageSure’s expansion strategy.
SageSure also confirmed its investment in GeoVera Nova Holdings, which has acquired the insurance carrier operations of GeoVera Insurance Holdings.
In September, SageSure signed a definitive agreement to acquire Gemini Financial Holdings Corp., pulling in a cluster of subsidiaries, including Olympus MGA Corp., a key Florida underwriting platform.
Olympus MGA manages policies for Olympus Insurance Co., a Florida carrier built for the mass-affluent homeowners segment.
As part of the deal, Valence Insurance Holdings – parent of SageSure’s carrier partners Auros and Interboro – will also take over Olympus Insurance and captive reinsurer Radiant.
The transaction builds SageSure’s weight in Florida’s difficult property insurance space. Combined, the businesses represent around 130,000 active policies, roughly $700 mn in gross written premium, and a distribution base of 1,500 independent agents across the state.
