Reinsurance News

mortgage ILS

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

Arch MI secures over $203m of indemnity reinsurance through Bellemeade Re

16th August 2024

Arch Mortgage Insurance Company (Arch MI) has obtained over $203 million of indemnity reinsurance on a pool representing approximately $30.5 billion of mortgages from Bellemeade Re 2024-1 Ltd., its Bermuda special purpose reinsurer. This transaction reportedly covers a portfolio of MI policies issued by Arch MI and affiliates primarily from September ... Read the full article

Enact completes sixth mortgage insurance-linked note transaction

16th November 2023

Enact Holdings' flagship legal entity, Enact Mortgage Insurance Corporation, has secured $248 million of fully collateralized excess of loss reinsurance coverage through the issuance of an insurance-linked note transaction with Triangle Re 2023-1 Ltd. According to Enact, the transaction provides coverage on a portfolio of existing seasoned mortgage insurance policies written ... Read the full article

Arch gets $233m+ of mortgage reinsurance through latest Bellemeade Re deal

1st November 2023

Arch Mortgage Insurance Company (Arch MI) has obtained over $233 million of indemnity reinsurance on a pool representing approximately $32.4 billion of mortgages from Bellemeade Re 2023-1 Ltd., a special purpose reinsurer. The coverage was obtained by issuing approximately $186 million in bonds and $46 million in direct reinsurance, Arch explained. "This ... Read the full article

Mortgage ILS issuance on the rise as incumbents turn to capital markets for reinsurance

20th October 2023

The issuance of mortgage insurance-linked securities (ILS) transactions appears to be gaining traction after a muted 18 months, as major US mortgage insurers turn to the capital markets for reinsurance protection. Data from Artemis, our ILS-focused sister site, reveals that mortgage ILS issuance hit an annual high of roughly $6.3 ... Read the full article