Coastal property managing general underwriter SageSure’s CEO said it is “proud to support” its carrier partners, as its largest catastrophe bond transaction yet closes, the $520 million Gateway Re Ltd. (Series 2025-1), while executives also expressed gratitude to the insurance-linked securities (ILS) community for supporting the Gateway Re series.
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SageSure has secured its largest catastrophe bond issuance yet as the Gateway Re Ltd. (Series 2025-1) deal has now been priced to provide the company with $520 million of first and second event US named storm reinsurance protection, while the notes were priced at the bottom of lowered guidance, Artemis has learned.
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SageSure now appears to have fixed the target size for its new Gateway Re Ltd. (Series 2025-1) catastrophe bond issuance we are told, with now $520 million of first and second event US named storm reinsurance protection sought from the deal and pricing moving lower for some tranches.
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Coastal property managing general underwriter SageSure has raised the target size for its new Gateway Re Ltd. (Series 2025-1) catastrophe bond issuance, with now between $470 million and as much as $555 million of first and second event US named storm reinsurance protection sought.
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A new catastrophe bond is being marketed to source broad, first and second event US named storm reinsurance protection for underwriting entities linked to coastal property managing general underwriter SageSure, with an initial $410 million target for this Gateway Re Ltd. (Series 2025-1) issuance.
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