Gateway Re Ltd

We’re told that the price guidance has been reduced for SageSure linked SureChoice and Elevate reciprocal exchanges’ new $130 million second and subsequent event  Gateway Re Ltd. (Series 2024-2) catastrophe bond issuance.

Having only just priced a new first-event catastrophe bond, the SageSure linked SureChoice and Elevate reciprocal exchanges are back and already seeking up to $130 million of second and subsequent event named storm reinsurance from a Gateway Re Ltd. (Series 2024-2) cat bond issuance.

The SageSure linked SureChoice and Elevate reciprocal exchanges have now secured the upsized target of $250 million of capital markets backed named storm reinsurance from their latest catastrophe bond, while the Gateway Re Ltd. (Series 2024-1) issuance has also priced at the low-ends of already reduced guidance.

The target size for the Gateway Re Ltd. (Series 2024-1) catastrophe bond issuance that will benefit the SageSure linked SureChoice and Elevate reciprocal exchanges has now been increased, with up to $250 million of capital markets backed reinsurance now targeted from the deal.

The SureChoice and Elevate reciprocal exchanges are set to benefit from additional named storm reinsurance protection via a new catastrophe bond, as coastal property managing general underwriter SageSure is back in the market with an up to $200 million Gateway Re Ltd. (Series 2024-1) issuance.

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.

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.

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.

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.

The recently completed sponsorship of its debut second and subsequent event focused catastrophe bond, the $100 million Gateway Re Ltd. (Series 2023-2) deal, is a “necessary layer of additional protection during the 2023 Atlantic hurricane season,” SURE President Ed Konar has explained, while Swiss Re’s Jean-Louis Monnier said it represents efficient reinstatement capacity.