SageSure, a managing basic agent specializing in catastrophe-exposed markets within the Southeast and different states, together with its affiliated Anchor Re captive reinsurer and SURE reciprocal, introduced they’ve secured a $60 million disaster bond, three months after SageSure closed on a $130 million cat bond in April.
The transaction brings SageSure’s threat capital to $1.2 billion, forward of what’s predicted to be a busy Atlantic hurricane season.
“The construction of this disaster bond offers important safety if multiple hurricane impacts our portfolio this hurricane season,” stated Travis Lewis, Director of Anchor Re.
Insurance coverage-linked securities and different capital, resembling cat bonds, are a “essential risk-transfer mechanism” for insurers and reinsurers in high-risk coastal areas, SageSure famous in a information launch this week.
SageSure has workplaces in New Jersey and writes in 14 states.
Subjects
Catastrophe
Natural Disasters
Hurricane
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