SageSure, a Jersey City, N.J.-based technology-driven managing general underwriter specializing in coastal residential property markets, raised $125m in bank financing.
The syndicated facility is led by Citizens and includes Joint Lead Arrangers ING Group, BMO Harris and East West Bank.
The funding will enable SageSure to continue growth across its existing 14 state footprint.
The company has more than tripled written premium since 2017 to over $800 million this year and serves more than 400,000 policyholders.
Led by CEO Terry McLean, SageSure is a technology-driven managing general underwriter specializing in coastal residential property markets. It offers more than 50 competitively priced insurance products in 14 coastal states on behalf of its carrier partners and serves more than 400,000 policyholders. Since its founding in 2005, SageSure distributes its products through a network of insurance producers and brokers who provide insurance buyers with expert advice on protecting their most important asset.