SageSure, a managing general underwriter, has partnered with Auros Reciprocal Insurance Exchange to launch homeowners insurance solutions in Louisiana and Mississippi, US.
This collaboration marks SageSure’s third reciprocal exchange following SureChoice Underwriters Reciprocal Exchange and Elevate, launched in 2021 and 2022, respectively.
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Auros, domiciled in Mississippi, received its certificate of authority earlier this year and has an initial policyholder surplus of $25m.
The partnership aims to provide comprehensive homeowners products for producers and policyholders throughout the Gulf and south-east regions.
Concurrently, Ed Konar, with more than 40 years of insurance industry experience, has been appointed as president of Auros Risk Management, the attorney-in-fact (AIF) managing the reciprocal exchange.
Rich Swartz has joined as treasurer of the AIF.
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By GlobalDataSageSure currently offers more than 50 insurance products across 14 coastal states, serving more than 650,000 policyholders with an in-force premium exceeding $1.9bn.
SageSure president and CEO Terrence McLean said: “SageSure is excited to include Auros among its highly rated insurance carrier partners. Auros introduces much-needed capacity to Louisiana and Mississippi where demand for homeowners solutions is high and options are limited.
“With the launch of Auros, SageSure can continue to deliver on its promise to provide consistent, reliable products for producers while diversifying premium growth.”
Konar said: “As a member-owned insurance company, Auros is customer-centric by design. We make every decision with our policyholders’ best interests in mind.
“We believe that alignment of interest creates better outcomes for members, partners and the markets we serve. We are grateful to SageSure and the Mississippi Insurance Department for their partnership in bringing Auros to the market.”
In August, SageSure partnered with Markel to distribute Markel’s specialty insurance products in select states.
Initially, Markel’s products will be available in Louisiana, South Carolina and Texas, with plans to expand to additional states.
Producers can quote and bind these products using SageSure’s proprietary platform.
Since September 2023, SageSure Expanded Markets has collaborated with third-party providers to enhance its signature product suite, providing additional capacity for its producer partners.
In May, SageSure introduced its first expanded markets surplus lines dwelling fire product to meet the growing demand for fire coverage in coastal states.
