SageSure Acquires GeoVera Advantage MGA; GeoVera Forms GeoVera Nova Holdings with SafePort Insurance
April 9, 2024
SageSure entered into a definitive agreement to acquire GeoVera Advantage Insurance Services (GeoVera MGA), including GeoVera’s residential earthquake underwriting franchise. The transaction also ties to GeoVera’s simultaneous combination of its insurance carriers with SafePort Insurance into GeoVera Nova Holdings, which becomes a carrier partner of SageSure.
- Buyers
- SageSure, GeoVera Nova Holdings, Inc. (GeoVera Nova)
- Targets
- GeoVera Advantage Insurance Services, Inc. (GeoVera MGA), GeoVera Insurance Company, GeoVera Specialty Insurance Company, Coastal Select Insurance Company, SafePort Insurance Company
- Sellers
- GeoVera Insurance Holdings, Ltd., GeoVera Insurance Holdings, Ltd. shareholders (including Flexpoint Ford, New Capital Partners, and AXA XL)
- Industry
- Insurance
- Location
- California, United States
- Transaction Type
- Buyout
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