SageSure and carrier partners close $100 million Gateway Re catastrophe bond
ReutersJul 11, 2025 12:50 PM
By Mia MacGregor
July 11 - (The Insurer) - Catastrophe MGU SageSure and carrier partners Auros Reciprocal Insurance Exchange and Elevate Reciprocal Exchange have closed the Gateway Re Series 2025-3 catastrophe bond at $100 million.
With this issuance, the SageSure-supported Gateway Re series now has more than $2.1 billion in cumulative notional limit, making SageSure the world’s seventh-largest catastrophe bond sponsor by total notional outstanding, according to the company.
The Gateway Re 2025-3 Class A notes provide hurricane protection for Auros and Elevate in Louisiana, Mississippi, South Carolina and Texas for a single season.
Swiss Re Capital Markets served as sole structuring agent and bookrunner on the transaction.
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