SageSure to Acquire GeoVera MGA, Including GeoVera's Industry-Leading Underwriting Franchise in Residential Earthquake Risk [Yahoo! Finance]
Ares Management Corporation Class A (ARES)
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Source: Yahoo! Finance
JERSEY CITY, N.J., April 09, 2024 BUSINESS WIRE )--SageSure, one of the largest managing general agents focused on catastrophe-exposed markets, today announced that it has entered into a definitive agreement to acquire GeoVera Advantage Insurance Services, Inc. ("GeoVera MGA"), an existing managing general agent within the specialty property insurance provider GeoVera Insurance Holdings, Ltd. ("GeoVera"). Upon the transaction's completion, SageSure will assume the underwriting operations of GeoVera MGA's best-in-class residential earthquake franchise. With the addition of the GeoVera MGA's deep earthquake expertise, the transaction will further enhance SageSure's robust catastrophe risk underwriting capabilities and accelerate its entrance into new markets, including Oregon and Washington. "We are excited to enter into an agreement that solidifies SageSure as one of the leading underwriters of catastrophe-exposed property risk in the US. This transaction is a rare opportunity to
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