JERSEY CITY, NJ – November 3, 2022 – SageSure, the managing general underwriter committed to protecting catastrophe-exposed property, today announced the appointment of John Lummis as Executive Vice President of Capital and Risk Management. Lummis brings more than 25 years of experience in senior executive, advisory, and investment roles within the property and casualty insurance industry, including his positions as the CFO and COO of RenaissanceRe and CEO of AQR Capital Management.
In his role, Lummis will focus on enhancing SageSure’s insurance risk management capabilities across carrier portfolios and optimizing capital structure and efficiency. He will also lead further investment in proprietary exposure management technology and risk analytics capabilities.
“John is a proven leader with a track record of developing insurance risk management strategies that yield market-leading returns,” said Terry McLean, co-founder and CEO of SageSure. “Strong catastrophe risk management has been central to our long-term mission of protecting property in areas exposed to extreme events. John’s role represents our significant investment in this area and our commitment to continue our progress in a challenging space.”
In markets that many insurance providers avoid, SageSure has demonstrated prudent and successful growth and expects to further strengthen its innovative exposure management technology that drives better results.
“SageSure has built a world-class organization that is leading the industry in underwriting outperformance,” said John Lummis. “I’ve known Terry for many years, most recently in my role as an advisor to SageSure, and I greatly admire the business that he and his team have built. I look forward to working with the team to enhance an already strong platform and to continue growing SageSure’s risk analytics.”
John Lummis joins SageSure after serving on its advisory board. He is currently an advisor to Nyca, a fintech venture capital firm, and Pelican Ventures Group, an insurance-focused investment firm. He also serves on the board of Wyoming’s $10 billion public pension fund. Among his many achievements, he was recognized by Institutional Investor as a leading CFO in the insurance sector during his tenure at RenaissanceRe.
SageSure is an insurance first, tech-forward managing general underwriter specializing in coastal residential and commercial property markets. SageSure offers more than 50 competitively priced insurance products in 14 coastal states on behalf of its carrier partners, serves more than 410,000 policyholders, and has more than $900 million of in-force 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. SageSure distributes its products through a network of more than 11,500 insurance producers and national brokers who provide customers with expert advice on protecting their most important asset. For more information, visit sagesure.com.