SageSure and its carrier affiliates have completed the Gateway Re Series 2025-3 catastrophe bond issuance, raising $100 million.
The deal closed in under half the typical placement timeframe, contributing to a cumulative notional limit of more than $2.1 billion across the Gateway Re series.
With this latest transaction alongside Auros Reciprocal Insurance Exchange and Elevate Reciprocal Exchange, SageSure announced that it is now ranked as the seventh-largest catastrophe bond sponsor globally in terms of total notional outstanding.
The 2025-3 issuance follows Auros' first catastrophe bond deal in April and was met with strong investor participation.
The Class A notes from Gateway Re 2025-3 provide single-season hurricane coverage for Auros and Elevate across Louisiana, Mississippi, South Carolina, and Texas.
Terrence McLean (pictured above), president and CEO of SageSure, said the catastrophe bond program reflects the value of insurance-linked securities (ILS) markets.
“We are grateful for the investor support that enables greater protection against peak perils and greater capacity in the catastrophe-exposed states we serve,” McLean said.
Travis Lewis, CEO of Auros Risk Management, said the deal bolsters protection for its programs and policyholders.
“We are grateful for the ILS market’s confidence and look forward to the responsible growth this issuance will support,” Lewis said.
The Gateway Re 2025-3 transaction is the eleventh installment in the series, which began in 2018. Over time, the series has become a central part of SageSure’s catastrophe risk financing strategy.
The 2025-3 issuance also builds on SageSure’s earlier activity this year, including the $520 million Gateway Re 2025-1 issuance – the largest to date in the series – and the $150 million Gateway Re 2025-2 transaction.
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