SageSure and Auros close $100 million cat bond

SageSure , one of the largest managing general underwriters focused on catastrophe-exposed markets, and its carrier partners Auros Reciprocal Insurance Exchange (“Auros”) and Elevate Reciprocal Exchange (“Elevate”) announced the close of the Gateway Re Series 2025-3 catastrophe bond at $100 million in nearly half the typical placement timeline. With more than $2.1 billion in cumulative notional limit including this issuance, the SageSure-supported Gateway Re series has secured SageSure’s spot as the seventh top catastrophe bond sponsor in the world as of this date in terms of total notional outstanding.

Following Auros’ inaugural catastrophe bond deal in April, the latest issuance achieved strong execution with lowered and narrowed price guidance, indicating investor confidence in the Gateway Re franchise.

The Gateway Re 2025-3 Class A notes will provide protection across a single hurricane season for cedants Auros and Elevate in Louisiana, Mississippi, South Carolina, and Texas.

As with previous Gateway Re transactions, Swiss Re Capital Markets acted as the sole structuring agent and bookrunner for the transaction.