SageSure Announces Exclusive Partnership with New Reciprocal Exchange Auros, Launches Homeowners Insurance in Mississippi and Louisiana
Auros is the third reciprocal exchange formation supported by SageSure.
Madison, MS – November 7, 2024 – SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, and Auros Reciprocal Insurance Exchange (“Auros”), a Mississippi-domiciled property insurer owned by its policyholders, today announced an exclusive partnership to bring homeowners solutions to Louisiana and Mississippi.
The launch of Auros marks the third reciprocal exchange sponsored by SageSure, following the introduction of SureChoice Underwriters Reciprocal Exchange (SURE) and Elevate in 2021 and 2022, respectively. Auros will enable SageSure to provide homeowners products for producers and policyholders throughout the Gulf and Southeast.
“SageSure is excited to include Auros among its highly rated insurance carrier partners,” said Terrence McLean, President and CEO of SageSure. “Auros introduces much-needed capacity to Louisiana and Mississippi where demand for homeowners solutions is high and options are limited. With the launch of Auros, SageSure can continue to deliver on its promise to provide consistent, reliable products for producers while diversifying premium growth.”
Auros received its certificate of authority in Mississippi earlier this year and has $25 million in initial policyholder surplus.
Ed Konar, a seasoned insurance industry executive with more than 40 years of experience, has joined as the President of Auros Risk Management, LLC, the attorney-in-fact (AIF) that manages operations of the reciprocal exchange. Rich Swartz joins the AIF as Treasurer.
“As a member-owned insurance company, Auros is customer-centric by design,” said Ed Konar, President of Auros Risk Management. “We make every decision with our policyholders’ best interests in mind. We believe that alignment of interest creates better outcomes for members, partners, and the markets we serve. We’re grateful to SageSure and the Mississippi Insurance Department for their partnership in bringing Auros to the market.”
Auros has secured a Financial Stability Rating® of A, Exceptional, by Demotech, Inc., and its HO3 and HO5 policies in Mississippi and Louisiana are now available only through SageSure. For more information, visit aurosins.com.
About Auros
Auros is a property insurance company designed for and owned by its policyholder members. Managed by a team of industry experts who lead with integrity and passion, Auros protects homeowners and their most valuable assets in some of the most challenging markets in the US. Auros is domiciled in Mississippi and exclusively available through SageSure, its partner in delivering innovative property insurance solutions. Rated A, Exceptional, by Demotech, Inc., Auros is available in Mississippi and Louisiana, and coming soon to Texas. To learn more, visit aurosins.com.
About SageSure
SageSure is the managing general agent specializing in coastal residential and commercial property insurance. SageSure offers more than 50 competitively priced insurance products in 14 coastal states on behalf of its carrier partners, serves more than 650,000 policyholders, and has more than $1.9 billion of inforce premium. Since its launch in 2009, SageSure has been pioneering property insurance through its market-leading online quoting and binding platform and its sophisticated risk modeling and scoring technology. For more information, visit sagesure.com.