SageSure, the specialist independent managing general underwriters of property catastrophe exposed insurance, has hailed its use of the Property Claim Services (PCS) county-level catastrophe loss reporting in the trigger of its newest $50 million Gateway Re Ltd. (Series 2023-3) catastrophe bond.
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Coastal property managing general underwriter SageSure has now secured its latest slice of capital markets backed reinsurance, as the new $50 million Gateway Re Ltd. (Series 2023-3) catastrophe bond issuance has been priced roughly 7% below the mid-point of the initial spread guidance range.
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The latest catastrophe bond from coastal property managing general underwriter SageSure looks likely to price at the bottom-end of initial guidance, as the firm seeks a lower spread for its first county-weighted aggregate retrocessional cat bond, the $50 million Gateway Re Ltd. (Series 2023-3) issuance.
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Coastal property managing general underwriter SageSure is back in the catastrophe bond market for already the fourth time this year, but this time it is seeking county-weighted aggregate retrocessional protection via its captive reinsurance vehicle, through a $50 million Gateway Re Ltd. (Series 2023-3) issuance.
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