Specialist catastrophe property management general underwriter (MGU) SageSure has completed its second reinsurance sidecar transaction with Seawall Re II Ltd., securing $200 million in capital.
Including the first Seawall Re deal in July 2025, the SageSure-sponsored sidecar platform has now secured $250 million in funding in less than a year.
The company said the expansion highlights its “pioneering role” at the intersection of capital markets in the reinsurance capital and catastrophe risk sectors, a strategic focus of the company’s commitment to further develop the insurance-linked securities (ILS) asset class for institutional investors.
GC Securities, a subsidiary of MMC Securities LLC, acted as the sole structuring and placement agent for the sidecar transaction, while Willkie Farr & Gallagher LLP acted as transaction advisor.
Readers can find further details on this, along with a range of other reinsurance sidecar investments and transactions, in the Collateralized Reinsurance Sidecar Deals Directory maintained by our sister publication Artemis.
Terrence McLean, President and CEO of SageSure, commented: “SageSure is committed to building long-term investor relationships, and Seawall Re II is a direct reflection of this commitment.
“We believe the future of catastrophe risk management lies in the ability to provide investors with a transparent, data-driven channel to achieve profitable underwriting outcomes. We look forward to continuing to build investor trust through high-quality data, proactive reporting and continued outperformance.”
Liam Martens, Managing Director of GC Securities, a division of MMC Securities LLC, said: “We have been honored to partner with SageSure since the inception of the Seawall Re platform.
“The strong response from investors demonstrates that SageSure’s differentiated approach to catastrophe risk management is highly attractive to the capital markets. We look forward to building on this momentum as the Seawall Re franchise scales.”
Together with its carrier partners, SageSure said its program expects to secure approximately $7 billion in first-event reinsurance limits in 2026.
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