SageSure has agreed to amass Gemini Monetary Holdings and its subsidiaries, together with Olympus MGA, enhancing its foothold in Florida’s property insurance coverage house.
Monetary specifics of the deal stay undisclosed.
Olympus MGA operates as an underwriting franchise in Florida and is the managing basic agent (MGA) for Olympus Insurance coverage Firm, which targets the “mass-affluent” house owner section.
The deal sees Valence Insurance coverage Holdings, the mother or father firm of SageSure’s service companions Auros and Interboro Insurance coverage, taking up Olympus Insurance coverage and captive reinsurer Radiant.
Olympus CEO Tim Strobl mentioned: “Our firm’s function is to ship the superior insurance coverage experiences folks deserve, and we see that mission mirrored in SageSure’s market management. We’re excited for this new chapter with SageSure that may additional improve Olympus’ efficiency, development and stability in one of the vital complicated insurance coverage markets within the US.”
The deal is projected to consolidate SageSure’s market presence with an estimated 130,000 in-force insurance policies and round $700m in gross written premium (GWP).
Moreover, SageSure will broaden its community to incorporate roughly 1,500 impartial brokers throughout Florida.
To assist this deal, SageSure will prolong its present debt facility with Ares Administration.
Goldman Sachs is the unique monetary advisor to SageSure, whereas Willkie Farr & Gallagher is offering authorized counsel.
Evercore Group is the unique monetary advisor to Gemini Monetary, with Eversheds Sutherland providing authorized recommendation.
The deal is because of be accomplished within the first quarter of 2026, contingent on the fulfilment of normal closing situations together with regulatory approvals.
SageSure CEO and president Terrence McLean acknowledged: “With a administration workforce dedicated to serving the precise wants of the mass-affluent owners section, a extremely differentiated claims expertise and a observe document of remarkable monetary efficiency, Olympus is a powerful strategic match for SageSure. What’s much more spectacular is that Olympus was in a position to ship these outcomes previous to Florida’s latest legislative modifications.”
Earlier within the yr, SageSure concluded the acquisition of GeoVera Benefit Insurance coverage Providers.
The acquired firm will perform as an MGA, incorporating a residential earthquake danger underwriting franchise into SageSure’s choices.
