SageSure, a Jersey City, NJ-based provider of catastrophe-exposed property insurance, received a $50M expanded revolving credit facility.
The facility was provided by Wintrust Financial Corporation.
The growth capital will support captive reinsurance vehicle and increase underwriting capacity. The facility will support quota share capacity with Anchor Re, a captive reinsurance vehicle, on behalf of SageSure carrier partners.
Led by Terrence McLean, CEO, SageSure is a managing general underwriter specializing in coastal residential and commercial property insurance. The company offers more than 50 insurance products in 14 coastal states on behalf of its carrier partners, serves nearly 400,000 policyholders, and has more than $1 billion of inforce premium. Since its launch in 2009, SageSure has been providing property insurance through its online quoting and binding platform and its risk modeling and scoring technology.
FinSMEs
28/03/2023