SageSure, a technology-focused Managing General Underwriter based in Jersey City, NJ who specializes in coastal residential real estate markets, raised $ 125 million 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 allow SageSure to continue growing its existing presence in 14 states.
The company has more than tripled the premium booked 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 real estate markets. On behalf of its carrier partners, it offers more than 50 insurance products at competitive prices in 14 coastal states and supports more than 400,000 policyholders. Founded in 2005, SageSure has sold its products through a network of insurance producers and brokers who provide expert advice to insurance buyers on how to protect their most important assets.