Reinsurance News
mortgage insurance
US private mortgage insurers increase use of reinsurance: AM Best
11th September 2025
According to AM Best, a credit rating agency and provider of financial data and analysis for the insurance industry, US private mortgage insurers continue to transfer a significant portion of their premiums to reinsurers, with the share going to unaffiliated reinsurers growing in recent years. In its latest Market Segment Report, ... Read the full article
Saudi Re and Damanat partner to improve mortgage financing with re/insurance solutions
18th February 2025
Saudi Re and Saudi Housing Guarantee Services Company (Damanat) have partnered to develop insurance and reinsurance solutions for the mortgage financing sector. They formalised their partnership through a Memorandum of Understanding (MoU). This strategic alliance aims to create innovative risk management solutions that will not only bolster the growth and stability of ... Read the full article
Fannie Mae closes fifth 2024 credit insurance transfer on $8.2bn single-family loans
8th July 2024
Fannie Mae, a government-sponsored enterprise and provider of mortgage financing in the United States, has completed a new Credit Insurance Risk Transfer transaction, known as CIRT 2024-L3. This initiative transferred $337.2 million in mortgage credit risk to private insurers and reinsurers. "We appreciate the support of the 27 insurers and reinsurers that ... Read the full article
Fannie Mae transfers $284.8mn of mortgage credit risk to re/insurers
12th June 2024
The Federal National Mortgage Association (Fannie Mae) has executed its fourth Credit Insurance Risk Transfer (CIRT) transaction of 2024, transferring $284.8 million of mortgage credit risk to private insurers and reinsurers. 25 insurers and reinsurers have committed to write coverage on this deal, according to the announcement. The CIRT 2024-H2 transaction ... Read the full article
US insurance industry’s cash and invested assets increase of 4.4% in 2023: NAIC
16th May 2024
The US insurance industry reported $8.5 trillion in total cash and invested assets, including affiliated and unaffiliated investments, at year-end 2023, compared to year-end 2022, with growth rebounding modestly from 1.3% in the prior period, an NAIC report revealed. The research by the National Association of Insurance Commissioners (NAIC) also stated ... Read the full article
Fitch revises 2024 outlook for U.S. mortgage insurers to ‘Neutral’
7th December 2023
In a recent outlook report, Fitch Ratings has adjusted its 2024 sector outlook for U.S. mortgage insurers from deteriorating to neutral, citing continued strong profitability despite a potential economic slowdown. Fitch's analysis anticipates a modest increase in unemployment in the coming year, which could lead to a rise in borrower defaults. However, ... 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
Essent Group closes $281.5m reinsurance deal & related mortgage insurance-linked notes
9th August 2023
Essent Group, a Bermuda-based holding company, has announced that its wholly-owned subsidiary, Essent Guaranty, Inc., has obtained $281.5 million of fully collateralized excess of loss reinsurance coverage on mortgage insurance policies. The reinsurance applies to policies that were written in August 2022 through to June 2023 from Radnor Re 2023-1 ... Read the full article
US mortgage insurers hampered by inflation & slowing home prices: Fitch
28th December 2022
Fitch Ratings suggests its outlook for the US mortgage insurance sector is deteriorating due to expectations for a slowing economy in 2023, with an increase in unemployment and potential pricing corrections in the housing market. In its sector outlook, Fitch also considers the forecast of a mild recession, which is expected ... Read the full article
Fannie Mae transfers $700m of mortgage credit risk to re/insurers
27th September 2022
Fannie Mae has announced the transfer of $700m of mortgage credit risk to private re/insurers through its Credit Insurance Risk Transfer (CIRT) 2022-9 program, as part of its ongoing effort to reduce taxpayer risk by increasing the role of private capital in the mortgage market. Rob Schaefer, Fannie Mae Vice President ... Read the full article
US mortgage results back at pre-pandemic levels: Fitch
18th August 2022
New analysis from Fitch Ratings shows that US mortgage insurance underwriting results in 1H22 were particularly strong as current-year loss activity is in line with pre-pandemic periods. However, the rating agency added that results were more than offset by highly favourable reserve development, leading to a calendar-year loss ratio of negative ... Read the full article
US life insurers’ commercial mortgages stable amid growing headwinds: Fitch
15th August 2022
A recent Fitch Ratings report has said U.S life insurers’ commercial mortgage fundamentals have largely recovered since the pandemic, with stable property outlooks for hotel, office retail, and multifamily sectors. The Federal Reserve’s monetary tightening and the current recession will pressure some sectors of commercial mortgages over the midterm, with high ... Read the full article
Insurers may face exposures from surging housing market: Swiss Re
11th August 2022
A new report from the Swiss Re Institute states a record high in housing prices accompanied by inflated household debt has created an increasingly challenging market. Insurers are warned to carefully manage their business and investment risk exposure. Surging interest rates are making new house purchases less affordable and increasing mortgage ... Read the full article
Radian secures additional $484mn of mortgage reinsurance
11th November 2021
Radian Guaranty, a subsidiary of US mortgage insurer Radian Group, has secured an additional $484 million of fully collateralised excess of loss reinsurance protection from Eagle Re 2021-2 Ltd. This is the second time this year that Radian has looked to the capital markets for a source of mortgage reinsurance ... Read the full article
NMI Holdings secures additional $364mn of mortgage reinsurance
27th October 2021
National Mortgage Insurance Corporation (NMI Holdings, Inc.) has returned to the capital markets for the seventh time since 2017, securing $364 million of fully-collateralised mortgage reinsurance protection through an Oaktown Re mortgage insurance-linked securities (ILS) transaction. Oaktown Re VII Ltd. is a newly registered Bermuda domiciled special purpose insurer which ... Read the full article
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