SageSure and SURE Secure $520 Million Catastrophe Bond, Largest Gateway Re Issuance to Date [Yahoo! Finance]
SWISS RE LTD S/ADR (SSREY)
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Source: Yahoo! Finance
JERSEY CITY, N.J., February 28, 2025 BUSINESS WIRE )--SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, and SureChoice Underwriters Reciprocal Exchange ("SURE"), a policyholder-owned reciprocal exchange, today announced the close of the Gateway Re Series 2025-1 catastrophe bond at $520 million, the franchise's largest issuance to date. At a nearly 27 percent upsize from its initial $410 million target, the ninth issuance in the Gateway Re series achieved pricing approximately 10% lower than the midpoint of its initial target, signaling strong investor appetite. After first entering the insurance-linked securities (ILS) market in 2022, SageSure has since become one of the top primary cat bond sponsors in the US. With the close of this transaction, the SageSure-supported Gateway Re franchise has secured more than $1.7 billion in cumulative notional limit to date. "SageSure is proud to support its carrier partners in securing the la
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