Flexpoint Ford closes over $460 million continuation vehicle for SageSure
Private equity firm Flexpoint Ford announced the close of a single-asset continuation vehicle for SageSure, a managing general underwriter specializing in catastrophe-exposed markets, with total commitments of over $460 million, including commitments from the General Partner and rollover investors.
The transaction enables Flexpoint to extend its ownership of “a high‑performing portfolio company.” The continuation vehicle was led by Lexington Partners, with participation from Barings and Round2 Investment Partners.
Founded in 2009, SageSure has grown into one of the largest property MGUs in the United States, with $3.2 billion in written premium and protecting more than 970,000 policyholders across 16 states. Since Flexpoint’s original investment in May 2023, SageSure has continued to expand its carrier and distribution relationships, broadened its product capabilities, and completed strategic acquisitions of GeoVera, a leading residential earthquake MGU, and Olympus, a premier mass-affluent residential property MGU in Florida.
“SageSure’s ability to deliver innovative property insurance solutions in coastal markets while maintaining underwriting discipline has resulted in a company that is admired by a diverse group of stakeholders, including policyholders, insurance agents, carrier partners, and reinsurance markets.” – Dominic Hood, Managing Director at Flexpoint.
“We are excited to continue our partnership with the SageSure management team and believe the company is well-positioned to bring its differentiated underwriting capabilities to more markets and policyholders over the coming years. This transaction has allowed Flexpoint to provide the option of liquidity to our existing investors in a high-performing company while welcoming a new group of partners who share our conviction in SageSure’s future prospects.” – Chris Ackerman, CEO at Flexpoint.
“Our continued partnership with Flexpoint provides a stable foundation for SageSure’s next phase of expansion, and we’re grateful for the momentum we’ve built together over the past three years. As we continue to scale, we look forward to welcoming new capital partners who share our commitment to bringing innovation and stability to the markets that need it most.” – Terrence McLean, President and CEO of SageSure.
