SageSure, a U.S.-based managing general underwriter (MGU) specializing in catastrophe-exposed property insurance, closed its second catastrophe reinsurance sidecar transaction, securing $200 mn in capital through Seawall Re II.
The transaction expands the SageSure-sponsored sidecar platform created to channel institutional capital into catastrophe risk portfolios.
Including the initial Seawall Re transaction launched in July 2025, the platform has now raised $250 mn within less than one year.
SageSure and its carrier partners expect to secure around $7 bn of first-event reinsurance limit for the 2026 underwriting year.
According to Beinsure analysts, the transaction reflects ongoing growth in insurance-linked securities structures that connect catastrophe risk with capital markets.
Terrence McLean, President and CEO of SageSure, said the new vehicle strengthens relationships with long-term investors while providing transparent access to catastrophe underwriting performance.
He said the firm intends to offer investors a data-driven pathway into catastrophe insurance portfolios supported by detailed reporting and underwriting transparency.
“SageSure is committed to building long-term investor relationships, and Seawall Re II is a direct reflection of that commitment,” said McLean.
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.
Terrence McLean, President and CEO of SageSure
“We look forward to continuing to build investor trust with high-quality data, proactive reporting, and sustained outperformance.”
The sidecar operates under a quota share structure designed to align interests between investors, SageSure, and its underwriting partners. Those partners include SURE Insurance, Elevate Insurance, SafeChoice Insurance, Auros Insurance, Interboro Insurance, and GeoVera Nova.
Through this arrangement, carrier partners obtain additional catastrophe capacity and lower their net exposure levels.
Institutional investors gain access to diversified catastrophe risk supported by structured reinsurance portfolios.
GC Securities, part of Marsh McLennan, served as sole structuring and placement agent for the transaction. Willkie Farr & Gallagher acted as legal counsel.
Liam Martens, Managing Director at GC Securities, said investor demand reflects strong interest from capital markets participants seeking exposure to catastrophe risk through structured reinsurance vehicles.
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 of GC Securities, a division of MMC Securities
SageSure focuses on catastrophe-exposed residential property insurance markets across the United States.
The company operates in 16 states, manages more than $3.2 bn of in-force premium, and provides coverage to over 970,000 policyholders.
The firm ranks as the largest residential property managing general underwriter in the U.S. and remains an active sponsor in the catastrophe bond and insurance-linked securities market.
