This collaboration marks SageSure’s third reciprocal exchange venture, following the establishment of SureChoice Underwriters Reciprocal Exchange (SURE) and Elevate in recent years.

Auros, a policyholder-owned property insurer based in Mississippi, aims to address the growing need for homeowners insurance in the Gulf and Southeast regions, where options have been historically limited. The new reciprocal exchange received its certificate of authority earlier this year in Mississippi, with an initial policyholder surplus of $25 million.

Terrence McLean, President and CEO of SageSure, emphasised the strategic importance of this partnership. “We are thrilled to include Auros among our esteemed insurance carrier partners. Auros introduces essential capacity to Louisiana and Mississippi, where demand is high and choices are few. With this launch, SageSure continues to fulfill its mission to provide consistent, reliable insurance products for producers while driving premium growth.”

Edward Konar, a veteran insurance executive with over four decades in the industry, has been appointed President of Auros Risk Management, LLC, which will manage Auros’ operations. Konar highlighted the customer-centric philosophy at the core of the Auros model. “As a member-owned company, Auros is committed to prioritizing our policyholders’ needs. We believe that an alignment of interests fosters stronger outcomes for members, partners, and the broader market. We are grateful for the support of SageSure and the Mississippi Insurance Department in bringing Auros to life.”

The launch of Auros expands SageSure’s reciprocal exchange portfolio, providing homeowners across the Gulf and Southeast with tailored coverage options. With Auros, SageSure looks forward to building on its commitment to serve catastrophe-exposed markets with innovative and reliable insurance solutions.