SageSure, a major managing general underwriter (MGU) specializing in catastrophe-exposed markets, has received approval as an official coverholder and Delegated Claims Administrator (DCA) from Lloyd’s of London.
The designation allows SageSure to underwrite policies on behalf of Trium Syndicate 1322 at Lloyd’s, which holds an “A+” (Superior) rating from AM Best.
Under the new binding authority agreement, SageSure will focus on building a homeowners' insurance portfolio in markets exposed to catastrophic risks. The company’s expanded role as a coverholder is expected to increase its operational capacity, supported by Lloyd’s global reputation and financial backing.
As a Delegated Claims Administrator, SageSure will also manage claims, aiming to deliver efficient and sophisticated claims experiences for both syndicates and policyholders.
Terrence McLean (pictured above), president and CEO of SageSure, said, “Becoming a Lloyd’s Coverholder and Delegated Claims Administrator is a significant milestone for SageSure.”
He added that the company is “excited to partner with Trium Syndicate 1322 at Lloyd’s with the approval of a marketplace our producers and policyholders trust.”
SageSure’s new homeowners program issued by Trium Syndicate 1322 at Lloyd’s is now available in Louisiana, New York, North Carolina, South Carolina, and Texas.
The trend of US-based firms gaining Lloyd’s coverholder status is growing, with digital insurance provider Roamly also appointed as a coverholder in July. Roamly’s designation allows it to underwrite risk directly on Lloyd’s paper, expanding its capacity to develop insurance products for the on-demand and shared mobility sectors.
Another example is Motion Specialty, which became a Lloyd’s coverholder in May. The company focuses on high-value homes and standalone flood insurance, using data analytics and technology to address property catastrophe risks.
The appeal of Lloyd’s coverholder status is also extending into emerging sectors. Blockchain Deposit Insurance Corp. (BDIC) announced plans in February to seek Lloyd’s coverholder status to develop insurance policies for digital wallets and cryptocurrencies.
BDIC said that it aims to create a structured insurance framework for the crypto sector, illustrating how Lloyd’s delegated authority model is being used to support innovation in new risk areas.
These developments point to a broader trend among US MGAs and insurtechs, including those operating in California, to pursue Lloyd’s coverholder status to access global capacity, credibility, and the ability to innovate in underserved or emerging risk markets.
For brokers, these partnerships can mean greater access to specialty products and more flexible solutions for clients facing catastrophe, flood, or technology-driven risks.
