SageSure has agreed to accumulate 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 normal agent (MGA) for Olympus Insurance coverage Firm, which targets the “mass-affluent” home-owner phase.
The deal sees Valence Insurance coverage Holdings, the mother or father firm of SageSure’s provider companions Auros and Interboro Insurance coverage, taking on Olympus Insurance coverage and captive reinsurer Radiant.
Olympus CEO Tim Strobl stated: “Our firm’s goal 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 can additional improve Olympus’ efficiency, progress and stability in some of the 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 develop its community to incorporate roughly 1,500 unbiased brokers throughout Florida.
To help this deal, SageSure will prolong its current 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 ordinary closing circumstances together with regulatory approvals.
SageSure CEO and president Terrence McLean acknowledged: “With a administration group dedicated to serving the particular wants of the mass-affluent householders phase, a extremely differentiated claims expertise and a observe document of remarkable monetary efficiency, Olympus is a robust strategic match for SageSure. What’s much more spectacular is that Olympus was capable of ship these outcomes previous to Florida’s current legislative adjustments.”
Earlier within the yr, SageSure concluded the acquisition of GeoVera Benefit Insurance coverage Providers.
The acquired firm will operate as an MGA, incorporating a residential earthquake threat underwriting franchise into SageSure’s choices.
