Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

Our 80,000 qualified print subscribers—and 130,000 12-month engaged online audience—trust us to dive in and provide original journalism you won’t find elsewhere covering key emerging areas such as laser-driven inertial confinement fusion, lasers in space, integrated photonics, chipscale lasers, LiDAR, metasurfaces, high-energy laser weaponry, photonic crystals, and quantum computing/sensors/communications. We cover the innovations driving these markets.

Laser Focus World is part of Endeavor Business Media, a division of EndeavorB2B.

Laser Focus World Membership

Never miss any articles, videos, podcasts, or webinars by signing up for membership access to Laser Focus World online. You can manage your preferences all in one place—and provide our editorial team with your valued feedback.

Magazine Subscription

Can you subscribe to receive our print issue for free? Yes, you sure can!

Newsletter Subscription

Laser Focus World newsletter subscription is free to qualified professionals:

The Daily Beam

Showcases the newest content from Laser Focus World, including photonics- and optics-based applications, components, research, and trends. (Daily)

Product Watch

The latest in products within the photonics industry. (9x per year)

Bio & Life Sciences Product Watch

The latest in products within the biophotonics industry. (4x per year)

Laser Processing Product Watch

The latest in products within the laser processing industry. (3x per year)

Get Published!

If you’d like to write an article for us, reach out with a short pitch to Sally Cole Johnson: [email protected]. We love to hear from you.

Photonics Hot List

Laser Focus World produces a video newscast that gives a peek into what’s happening in the world of photonics.

Following the Photons: A Photonics Podcast

Following the Photons: A Photonics Podcast dives deep into the fascinating world of photonics. Our weekly episodes feature interviews and discussions with industry and research experts, providing valuable perspectives on the issues, technologies, and trends shaping the photonics community.

Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

SageSure and SURE Close $100 Million Second Event Catastrophe Bond

Second cat bond issued this year by Gateway Re demonstrates SageSure and SURE’s diversified approach to securing growth capacity.

SageSure, a leading provider of catastrophe-exposed property insurance, and SureChoice Underwriters Reciprocal Exchange (“SURE”), a policyholder-owned insurer, today announced that SURE has closed a $100 million catastrophe bond to provide reinsurance for second and subsequent events. The catastrophe bond was upsized by 33 percent from the transaction’s initial $75 million target, with pricing more competitive than the initial guidance.

With this issuance, SageSure has helped secure $580 million total in Gateway Re issuances for its carrier partners this year. For SURE, the Gateway Re 2023-2 catastrophe bond marks its second return to the global insurance-linked securities (ILS) market in 2023, after closing the $355 million Gateway Re Series 2023-1 catastrophe bond in February. Both transactions demonstrate SageSure and SURE’s strategy to leverage alternative capital markets for optimal placements when traditional reinsurance markets tightened in capacity.

“We are excited to see the continued support for SURE’s reinsurance program from the ILS investor community,” said Ed Konar, president of SURE. “The second and subsequent event catastrophe bond provides a necessary layer of additional protection during the 2023 Atlantic hurricane season.”

Whereas the Gateway Re 2023-1 issuance provides multi-year capacity, the Gateway Re 2023-2 Class C notes cover $100 million of second and subsequent event losses in excess of the $70 million attachment level for named storms during a single hurricane season across Alabama, North and South Carolina, Louisiana, Mississippi, and Texas.

“Catastrophe bonds have become an important source of additional catastrophe risk capacity for SageSure and our carrier partners,” said Terrence McLean, CEO and co-founder of SageSure. “As we’ve seen traditional reinsurance markets harden, we are grateful for the ongoing ILS investor support that enables us to provide underwriting capacity in challenging markets.”

Swiss Re Capital Markets again partnered with SURE and SageSure for the transaction as the sole structuring agent and bookrunner.

“Swiss Re Capital Markets is proud to have led the placement of SURE and SageSure’s innovative second and subsequent event catastrophe bond solution, the third issuance this year by the Gateway Re franchise,” said Jean-Louis Monnier, Global Head of ILS at Swiss Re. “The success of the placement demonstrates that alternative capital can be an efficient source of reinstatement capacity and underlines the investor confidence in SURE, SageSure, and the Gateway Re franchise.”

About SURE

SURE is the member-owned insurance company for reliable coastal property protection. Founded in 2021 and rated A, Exceptional, by Demotech, Inc., SURE is managed by a team of experienced and passionate insurance leaders who believe in building a safer world, one coastal property at a time. With more than 150,000 policyholders and more than $400 million of premium to date, SURE has grown rapidly to meet the needs of challenging markets while prudently managing exposure. As the first Texas-domiciled reciprocal since 2004, SURE is customer-focused by design and offers homeowners, dwelling fire, flood, and commercial coverage through an exclusive partnership with SageSure. To learn more, visit sureins.com.

About SageSure

SageSure is the managing general underwriter specializing in coastal residential and commercial property insurance. SageSure offers more than 50 competitively priced insurance products in 14 coastal states on behalf of its carrier partners, serves more than 400,000 policyholders, and has more than $1 billion of inforce premium. Since its launch in 2009, SageSure has been pioneering property insurance through its market-leading online quoting and binding platform and its sophisticated risk modeling and scoring technology. For more information, visit sagesure.com.

Contacts

More News

View More

Recent Quotes

View More
Symbol Price Change (%)
AMZN  213.04
-1.43 (-0.67%)
AAPL  252.29
+4.84 (1.96%)
AMD  233.08
-1.48 (-0.63%)
BAC  51.28
+0.84 (1.67%)
GOOG  253.79
+1.91 (0.76%)
META  716.91
+4.84 (0.68%)
MSFT  513.58
+1.97 (0.39%)
NVDA  183.16
+1.35 (0.74%)
ORCL  291.31
-21.69 (-6.93%)
TSLA  439.31
+10.56 (2.46%)
Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the Privacy Policy and Terms Of Service.