SageSure, a prominent managing general underwriter focused on catastrophe-exposed markets, has announced a definitive agreement to acquire Gemini Financial Holdings Corporation and its subsidiaries, including Olympus MGA Corp., a move set to strengthen its position in the Florida property insurance market.
As part of the transaction, Valence Insurance Holdings, the parent company of SageSure’s carrier partners Auros and Interboro Insurance, will acquire Olympus Insurance Company and captive reinsurer Radiant, Ltd. Olympus MGA serves as the managing general agent for Olympus Insurance, a leading Florida property insurer catering to the mass-affluent homeowners segment.
This strategic acquisition is expected to significantly enhance SageSure’s presence in Florida, resulting in a combined portfolio of approximately 130,000 inforce policies, an estimated $700 million in gross written premium, and an expanded network of approximately 1,500 independent agents across the state.
Terrence McLean, President and CEO of SageSure, commented on the acquisition, stating, “It takes extreme discipline, strategy, and differentiation to succeed in the Florida market of the last several years as Olympus has. With a management team committed to serving the specific needs of the mass-affluent homeowners segment, a highly differentiated claims experience, and a track record of exceptional financial performance, Olympus is a strong strategic fit for SageSure. What’s even more impressive is that Olympus was able to deliver these results prior to Florida’s recent legislative changes. We look forward to continuing Olympus’ winning strategy together.”
Tim Stroble, CEO of Olympus, also expressed his views on the new chapter, noting, “Our company’s purpose is to deliver the superior insurance experiences people deserve, and we see that mission reflected in SageSure’s market leadership. We are excited for this new chapter with SageSure that will further enhance Olympus’ performance, growth, and stability in one of the most complex insurance markets in the US.”
To support the acquisition, SageSure’s existing debt facility with its long-standing capital partner, Ares Management, will be expanded. Goldman Sachs & Co. LLC is serving as the exclusive financial advisor to SageSure, with Willkie Farr & Gallagher LLP providing legal counsel. Evercore Group L.
L.
C. is acting as the exclusive financial advisor to Gemini Financial, and Eversheds Sutherland LLP is serving as Gemini Financial’s legal counsel.
The transaction is anticipated to close in the first quarter of 2026, contingent on the receipt of required regulatory approvals and other customary closing conditions.
SageSure is recognized as one of the largest managing general underwriters in the US focused on catastrophe-exposed property. The company is dedicated to supporting producers and carrier partners by offering residential and commercial solutions, innovative service and claims management, and market-leading buying experiences. A leader in catastrophe risk underwriting and exposure management, SageSure operates in 16 states, protecting over 850,000 policyholders and managing more than $2.5 billion of inforce premium.
Olympus Insurance Company specializes in residential property insurance, covering residential and investment properties, including homes, condos, rental properties, and personal property. Headquartered in Florida, Olympus operates with core values of service, simplicity, and accountability, aiming to deliver customer-focused, comprehensive, and reliable property insurance to Floridians.
