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Alternative Assets  + Real Estate  | 
SageSure, GeoVera Nova Close $200M Debut Cat Bond 

SageSure, GeoVera Nova Close $200M Debut Cat Bond 

SageSure Holdings, LLC, the largest U.S. residential property MGU focused on catastrophe‑exposed markets, and GeoVera Nova Holdings, Inc., a specialist in earthquake, wind, and property insurance solutions, have closed the inaugural Meritage Re Ltd. Series 2026‑1 catastrophe bond at $200 million.  

The transaction marks the first issuance from Meritage Re, a newly formed Bermuda special purpose vehicle, and the first U.S. named storm cat bond for the three ceding companies overseen by GeoVera Nova. 

The bond will provide three years of protection against certain U.S. named storm losses for SageSure’s carrier partners: GeoVera Insurance Company, GeoVera Specialty Insurance Company, and Safeport Insurance Company. 

“By leveraging capital markets for hurricane protection, we are further diversifying our reinsurance program and strengthening our ability to provide stable, reliable capacity in catastrophe-prone regions,” said John Forney, President and CEO of GeoVera Nova. 

Swiss Re Capital Markets Corporation served as sole structuring agent and bookrunner on the transaction. 

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.