SageSure, a U.S. reinsurance specialist, has announced a new investment in Pillar Reinsurance, a Bermuda‑based independent life‑settlement (ILS) fund manager. The capital injection will support Pillar’s ongoing portfolio expansion and enhance its capability to source and underwrite high‑quality catastrophe exposure.

Pillar, which has been operating from Hamilton since 2018, focuses on structuring complex ILS vehicles that allow investors to access diversified catastrophe risk. With the additional backing from SageSure, the firm plans to accelerate the development of several new ILS tranches, targeting both North American and Caribbean markets.

Bermuda officials welcomed the move, noting that it reinforces the territory’s reputation as a premier domicile for reinsurance innovation. “Foreign investment in our ILS sector is a clear sign of confidence in Bermuda’s regulatory framework and market expertise,” said a spokesperson for the Bermuda Monetary Authority. The partnership is expected to create new job opportunities for local professionals with expertise in catastrophe modeling, underwriting and capital markets.

SageSure’s involvement also signals growing interest from U.S. carriers in diversifying their risk exposure through structured products. By aligning with a local manager that has deep knowledge of Bermuda’s tax and legal environment, the partnership aims to offer investors more efficient access to global catastrophe risk.

The investment underscores the growing trend of international reinsurers seeking strategic ties with Bermuda firms to tap into the island’s sophisticated ILS market.