SageSure has announced a definitive agreement to acquire Gemini Financial Holdings Corporation and its subsidiaries, including Olympus MGA Corp.
Olympus MGA is the managing general agent for Olympus Insurance Company, a Florida property insurer that targets the mass-affluent homeowners segment.
As part of the transaction, Valence Insurance Holdings, the parent company of SageSure’s carrier partners Auros and Interboro Insurance, will acquire Olympus Insurance and captive reinsurer Radiant, Ltd.
SageSure expects the deal is expected to strengthen SageSure’s position in the Florida property insurance market, resulting in a combined total of approximately 130,000 in-force policies and about $700 million in gross written premium. The combined network will include roughly 1,500 independent agents across Florida.
The company has been active in expanding its presence in catastrophe-exposed markets. In January, SageSure also completed its acquisition of GeoVera Advantage Insurance Services LLC, a specialist in earthquake risk underwriting.
That transaction brought 114 employees from GeoVera Advantage into SageSure, broadening the company’s expertise and reach in earthquake-prone states such as Oregon and Washington.
“It takes extreme discipline, strategy, and differentiation to succeed in the Florida market of the last several years as Olympus has,” said Terrence McLean (pictured above), president and CEO of SageSure.
McLean described Olympus as a strategic fit for SageSure, citing its management team’s focus on the mass-affluent segment, its claims experience, and its financial performance.
“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,” McLean said.
SageSure’s existing debt facility with Ares Management will expand to support the acquisition. The transaction is expected to close in the first quarter of 2026, pending regulatory approvals and customary closing conditions.
In March, SageSure and SureChoice Underwriters Reciprocal Exchange closed the Gateway Re Series 2025-1 catastrophe bond at $520 million, the largest issuance in the Gateway Re franchise to date. This transaction increased the cumulative notional limit secured through the Gateway Re series to over $1.7 billion.
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