Jersey City-based SageSure, an underwriter focused on catastrophe-exposed markets, finalized its acquisition of GeoVera Advantage Insurance Services, LLC.
Terms of the transaction, which was originally announced on in April of 2024, were not disclosed.
The transaction combines the deep catastrophe risk underwriting expertise of the two businesses, which will operate under the SageSure brand. With the addition of the GeoVera Nova insurance subsidiary partnerships, SageSure is positioned to ensure seamless service for distributors, customers, and partners. Continuity and strong communication are the guiding principles of the integration.
“We are very excited to welcome this talented team to SageSure,” Terrence McLean, president and CEO of SageSure said. “Together, we will continue to focus on profitable, complementary catastrophe risk underwriting activities, drive growth, and deliver incredible value for policyholders, our partners, and our people.”
Howden Capital Markets & Advisory acted as the financial advisor to SageSure on the transaction, and Willkie Farr & Gallagher LLP served as SageSure’s legal advisor.
