SageSure and Auros close $150M cat bond

SageSure and Auros Reciprocal Insurance Exchange , an insurer owned by its policyholders, have completed a $150 million catastrophe bond called Gateway Re Series 2025-2. This bond gives them multi-year financial protection against hurricanes in states like Louisiana, Mississippi, South Carolina, and Texas.

This deal brings the total value of all Gateway Re bonds to over $2 billion, placing SageSure among the top five insurance companies globally using catastrophe bonds. The bond will help protect both Auros (new to this type of risk transfer) and Elevate, another insurer supported by SageSure.

The bond was initially expected to raise $125 million but grew 20% due to strong investor demand. Swiss Re helped structure and sell the bond.