SageSure, a managing general underwriter for catastrophe-exposed markets, has joined forces with specialty insurer Markel.
The collaboration will see SageSure distribute Markel’s insurance products via SageSure Expanded Markets.
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Initially, Markel’s specialty products will be offered in Louisiana, South Carolina and Texas, with additional states to follow.
Producers can quote and bind Markel’s products via SageSure’s proprietary platform.
Since September 2023, SageSure Expanded Markets has been working with third-party providers to enhance the SageSure Signature product suite.
This move has enabled SageSure’s producer partners to access additional capacity.
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By GlobalDataSageSure vice-president of expanded markets Dan Maloney said: “SageSure Expanded Markets is natural fit for a trusted insurance provider like Markel that shares our passion for innovation and expertly tailored products.
“We look forward to a lasting and rewarding collaboration, and we are excited for our producers to experience this insurance solution through our market-leading quoting and binding platform.”
Markel CEO Jeff May said: “We are excited to collaborate with SageSure and to be part of the continued growth of their Expanded Markets programme. We admire their commitment to serving challenging markets and look forward to being a strategic and long-term insurance provider.”
In May this year, SageSure launched its inaugural Expanded Markets surplus lines dwelling fire product to address rising demand for fire coverage in coastal states.
Meanwhile, in June, Markel bolstered its fine art division by appointing Kyle McGrath as the head of fine art – North America.
McGrath is tasked with driving the profitable expansion of the business.
With more than 12 years of experience in the insurance industry, her expertise spans underwriting, business strategy and broking.
