SageSure has agreed to acquire Gemini Financial Holdings and its subsidiaries, including Olympus MGA, enhancing its foothold in Florida’s property insurance space.
Financial specifics of the deal remain undisclosed.
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Olympus MGA operates as an underwriting franchise in Florida and is the managing general agent (MGA) for Olympus Insurance Company, which targets the “mass-affluent” homeowner segment.
The deal sees Valence Insurance Holdings, the parent company of SageSure’s carrier partners Auros and Interboro Insurance, taking over Olympus Insurance and captive reinsurer Radiant.
Olympus CEO Tim Strobl said: “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.”
The deal is projected to consolidate SageSure’s market presence with an estimated 130,000 in-force policies and around $700m in gross written premium (GWP).
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By GlobalDataAdditionally, SageSure will expand its network to include approximately 1,500 independent agents across Florida.
To support this deal, SageSure will extend its existing debt facility with Ares Management.
Goldman Sachs is the exclusive financial advisor to SageSure, while Willkie Farr & Gallagher is providing legal counsel.
Evercore Group is the exclusive financial advisor to Gemini Financial, with Eversheds Sutherland offering legal advice.
The deal is due to be completed in the first quarter of 2026, contingent on the fulfilment of standard closing conditions including regulatory approvals.
SageSure CEO and president Terrence McLean stated: “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 is even more impressive is that Olympus was able to deliver these results prior to Florida’s recent legislative changes.”
Earlier in the year, SageSure concluded the purchase of GeoVera Advantage Insurance Services.
The acquired company will function as an MGA, incorporating a residential earthquake risk underwriting franchise into SageSure’s offerings.
