SageSure secures $250 million in equity financing
SageSure, an independent managing general underwriter focused on providing catastrophe-exposed property insurance, announced the close of a $250 million equity investment led by Amwins and Flexpoint Ford, with participation from Ares Management Corporation.
The transaction partially recapitalizes SageSure’s long-term minority stakeholders while bringing in experienced strategic and financial investors. In connection with the transaction, Amwins and Flexpoint will each appoint a representative to the SageSure Board of Managers.
The equity investment also positions SageSure to continue its growth as the organization surpasses $1 billion of in-force premium.
In the past two years, SageSure has secured more than $700 million in equity and debt funding to support its trajectory of responsible growth from top financial institutions, including Ares Management Corporation, Citizens Financial Group, and, most recently, Wintrust Financial Corporation.
“SageSure is excited to include Amwins and Flexpoint Ford among our sophisticated capital partners. We’re grateful for their investment in our capital-efficient business model. Their support will strengthen our ability to protect more American Dreams in challenging markets.” – Terrence McLean, CEO and co-founder of SageSure.
“Terry and the SageSure team have built a truly exceptional business. We are excited to partner with them and support their efforts in building capacity, expanding their distribution base, and continuing to enhance their industry-leading technology platform.” – Scott Purviance, CEO of Amwins.