Reinsurance News
Essent Guaranty
Essent Guaranty closes $363.4m mortgage reinsurance transaction
25th September 2024
Essent Group's wholly-owned subsidiary, Essent Guaranty, has obtained $363.4 million of fully collateralized excess of loss reinsurance coverage on mortgage insurance policies written in July 2023 through to July 2024 from Radnor Re 2024-1 Ltd., a newly formed Bermuda special purpose insurer. Radnor Re 2024-1 Ltd. reportedly funded its reinsurance obligations ... Read the full article
Essent closes $237.9m capital markets mortgage deal
22nd September 2022
Essent Group subsidiary Essent Guaranty has obtained $237.9 million of fully collateralized excess of loss mortgage reinsurance coverage from the capital markets. The reinsurance applies to policies written in October 2021 through July 2022 from Radnor Re 2022-1 Ltd., a newly formed Bermuda special purpose insurer. Radnor Re 2022-1 has ... Read the full article
Essent secures $439mn mortgage reinsurance transaction
17th November 2021
Essent Group subsidiary Essent Guaranty has obtained $439.4 million of fully collateralised excess of loss reinsurance coverage on mortgage insurance policies written in April 2021 through September 2021. The cover was obtained from newly formed Bermuda special purpose insurer Radnor Re 2021-2. Radnor Re 2021-2 Ltd. is not a subsidiary or an ... Read the full article
Essent Guaranty secures $558mn from capital markets
24th June 2021
Essent Group subsidiary Essent Guaranty has obtained $557.9 million of fully collateralised excess of loss reinsurance coverage. The coverage is on mortgage insurance policies written in August 2020 through March 2021 from Radnor Re 2021-1 Ltd., a newly formed Bermuda special purpose insurer. Radnor Re 2021-1 Ltd. has funded its ... Read the full article
Essent secures $400mn of mortgage reinsurance from capital markets
9th October 2020
Bermuda-domiciled mortgage insurer Essent Group's subsidiary Essent Guaranty has secured $399.2 million of fully collateralised excess of loss reinsurance coverage from the capital markets. The reinsurance covers mortgage insurance policies written in September 2019 through July 2020 and is from Radnor Re 2020-2 Ltd. Radnor Re 2020-2 Ltd is a newly formed Bermuda ... Read the full article
Essent secures $496mn of mortgage reinsurance from capital markets
31st January 2020
Bermuda domiciled mortgage insurer Essent Group Ltd. has announced that its subsidiary, Essent Guaranty, Inc., has secured a further $495.9 million of fully collateralised excess of loss reinsurance coverage from the capital markets. The coverage was obtained through Radnor Re 2020-1 Ltd, a newly formed Bermuda special purpose insurer, and relates ... Read the full article
Moody’s increasingly positive on mortgage insurers as reinsurance use grows
2nd December 2019
With mortgage insurers in the U.S. increasingly leveraging the capital markets to secure reinsurance protection, alongside traditional forms of coverage, Moody's Investors Service (Moody's) has taken some positive rating actions and a somewhat more positive outlook on market players. Overall, notes Moody's, the U.S. mortgage insurance sector has reported broad-based improvements ... Read the full article
Reinsurance use supports Essent Group’s strong Q2 performance
2nd August 2019
Essent Group Ltd. has reported net income of $136.4 million for the second-quarter of 2019 compared with $111.8 million in the prior year quarter, assisted by growth in net premiums earned and an improved expense ratio, partly offset by an increase in losses and loss adjustment expenses (LAE) in the ... Read the full article
Essent obtains further $334mn of mortgage reinsurance from capital markets
24th June 2019
Bermuda domiciled mortgage insurer Essent Group Ltd. has announced that its subsidiary, Essent Guaranty, Inc., has secured a further $333.8 million of fully collateralised excess of loss reinsurance coverage from the capital markets. The coverage was obtained through Radnor Re 2019-2 Ltd, a newly formed Bermuda special purpose insurer, and relates ... Read the full article
Essent secures $473mn mortgage reinsurance from capital markets
4th March 2019
Essent Group Ltd. has announced that its subsidiary, Essent Guaranty, Inc., has secured $473.2 million of fully collateralised excess of loss reinsurance coverage from the capital markets. The coverage was obtained through Radnor Re 2019-1 Ltd, a newly formed Bermuda special purpose insurer, and relates to mortgage insurance policies written by ... Read the full article
Essent secures $424mn of mortgage reinsurance from capital markets
27th March 2018
Mortgage insurer Essent Guaranty has completed a transaction with Radnor Re 2018-1, a newly formed special purpose insurer, which sees Essent obtain US $424.4 million of fully collateralized excess of loss reinsurance coverage on mortgage insurance policies written by Essent in 2017. Essent Guaranty, which is a wholly owned subsidiary of ... Read the full article
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