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GeoVera Insurance Holdings, Ltd. has entered into a definitive agreement to sell its insurance carriers and managing general agent businesses. Upon completion of the transactions, a newly formed entity, GeoVera Nova Holdings, Inc., will control four insurance operating subsidiaries: GeoVera Insurance Company, GeoVera Specialty Insurance Company, Coastal Select Insurance Company, and SafePort Insurance Company, a property-focused insurance carrier. Additionally, the MGA operations of GeoVera will be acquired by SageSure, one of the largest independent MGAs focused on catastrophe-exposed markets, and GeoVera Nova will become a carrier partner of SageSure.
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