Press Release|Insurance
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KBRA Places Rating for Olympus Insurance Company on Watch Developing Following the Announcement of Acquisition by SageSure Insurance Managers

11 Sep 2025   |   New York

Contacts

KBRA places on Watch Developing the BBB+ insurance financial strength rating of Olympus Insurance Company (Olympus Insurance).

The Watch Developing status reflects the uncertainty with respect to the near-to-medium term impact of the pending acquisition of Olympus Insurance on the company's financial position, projected results, and risk profile in the wake of the announcement that SageSure Insurance Managers LLC will be acquiring Olympus Insurance's parent company, Gemini Financial Holdings Corp. The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions, including regulatory approval.

Headquartered in Florida, Olympus Insurance focuses on homeowners’ insurance and related coverages within the state. Its strategy targets newer, higher-value homes and financially responsible customers. The company is a wholly owned subsidiary of Gemini Financial Holdings Corp.

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Methodologies

Disclosures

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan’s Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S.

Doc ID: 1011254