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, Anchor Re, and SURE Close $60 Million County-Weighted Wind Cover Catastrophe Bond

Issuance brings the SageSure-supported Gateway Re franchise to $1.2 billion in cat bond limit in two years.

SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, Anchor Re, a captive reinsurance vehicle, and SureChoice Underwriters Reciprocal Exchange (“SURE”), a policyholder-owned reciprocal exchange, today announced the close of the Gateway Re 2024-4 county-weighted wind cover catastrophe bond at $60 million, a 20% upsize from the original $50 million target.

The eighth transaction in the Gateway Re series, the latest issuance brings SageSure-supported risk capital for underwriting partners to $1.2 billion in slightly over two years.

“The structure of this catastrophe bond provides essential protection if more than one hurricane impacts our portfolio this hurricane season,” said Travis Lewis, Director of Anchor Re. “We’re grateful to the ILS investor community for its continued support, which enables Anchor Re to efficiently deploy capital and capacity for SageSure’s underwriting partners’ reinsurance programs.”

Like the Gateway Re 2023-3 catastrophe bond secured a year ago, this issuance also uses a Property Claim Services (PCS) county-weighted catastrophe loss reporting trigger, a feature that has only been used by this franchise to cover multiple states. Unlike the previous catastrophe bond that provided three-year county-weighted wind cover, the latest transaction is designed to provide retrocessional reinsurance protection solely across the current hurricane season through the end of 2024.

Anchor Re, SURE, and Elevate Reciprocal Exchange (Elevate) are named as cedents, and the coverage will protect against a series of qualifying named storm events in Alabama, North and South Carolina, Louisiana, Mississippi, Texas, Virginia, and New York.

“SageSure continues to find the ILS market to be a sophisticated and efficient source of risk capital to support our underwriting partners,” said Terrence McLean, President and CEO of SageSure. “We are grateful for the confidence in our programs we’ve seen over the last two years.”

The issuance marks SURE’s third successful transaction completed through the global insurance-linked securities (ILS) market this year, following the recently closed $130 million Gateway Re Series 2024-2 catastrophe bond.

Swiss Re Capital Markets again served as the sole structuring agent and bookrunner for the issuance.

“Swiss Re Capital Markets is proud to have secured this second and subsequent event cover for SageSure,” said Jean-Louis Monnier, CEO of Swiss Re Capital Markets. “This eighth successful issuance under the Gateway program is a remarkable feat considering that SageSure has now secured $1.2 billion of cumulative notional limit in catastrophe bonds in just over 2 years. The 2024 transaction will provide valuable sideways coverage through county-weighted industry loss indices for Anchor Re, as well as SURE and Elevate.”

About Anchor Re

Founded in 2020, Anchor Re is an Arizona-domiciled captive reinsurer that provides scalable capacity exclusively for SageSure’s carrier partners.

About SURE

SURE is the member-owned insurance company for reliable coastal property protection. Founded in 2021, 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 240,000 policyholders and more than $725 million of inforce 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. SURE is rated A, Exceptional, by Demotech, Inc. and is currently available in Alabama, California, Florida, Louisiana, Mississippi, North Carolina, South Carolina, and Texas. To learn more, visit sureins.com.

About SageSure

SageSure is the managing general agent 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 600,000 policyholders, and has more than $1.8 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.