SageSure operates a proprietary online quoting and binding platform and uses sophisticated risk modeling and scoring technology to underwrite coastal residential and commercial property insurance. The firm offers more than 50 competitively priced insurance products across 14 coastal states on behalf of carrier partners. SageSure serves nearly 400,000 policyholders and has more than $1 billion of inforce premium. The company says the recent capital will be deployed to support growth and create additional underwriting capacity for its carrier partners and producers in a challenging catastrophe market. Leadership describes the business as capital-efficient and intends to use the investment to expand distribution and strengthen its technology and underwriting capabilities. SageSure was launched in 2009. SageSure is a managing general underwriter based in Jersey City, NJ, specializing in coastal residential and commercial property insurance on behalf of carrier partners. Led by CEO Terrence McLean and launched in 2009, the company offers more than 50 insurance products across 14 coastal states via an online quoting and binding platform. SageSure uses risk modeling and scoring technology to support its underwriting. The company serves nearly 400,000 policyholders and has more than $1 billion of inforce premium. The firm secured a $50M expanded revolving credit facility to support a captive reinsurance vehicle and increase underwriting capacity. The facility will also support quota-share capacity with Anchor Re on behalf of SageSure's carrier partners and was provided by Wintrust Financial Corporation. SageSure is a technology-driven managing general underwriter that specializes in coastal residential property markets and is led by CEO Terry McLean. The company offers more than 50 competitively priced insurance products across 14 coastal states on behalf of carrier partners and distributes through a network of insurance producers and brokers. Since its founding in 2005, SageSure has grown its written premium to over $800 million this year, having more than tripled premium since 2017. It serves more than 400,000 policyholders. The company raised a $125M syndicated bank facility led by Citizens with joint lead arrangers ING Group, BMO Harris and East West Bank. The financing will enable SageSure to continue growth across its existing 14-state footprint.

Total raised

$425M

Funding rounds

3

Latest round

Equity

Latest activity

May 2023