The completion of mortgage insurer Essent Guaranty’s first mortgage insurance-linked securities (ILS) transaction is seen as a “significant milestone” for the firm, according to its CEO, as the $424.4 million Radnor Re 2018-1 Ltd. deal helps to diversify the firms risk capital sources.
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Essent Guaranty’s first mortgage insurance-linked securities (ILS) transaction Radnor Re 2018-1 Ltd. has increased in size while being marketed to investors and now looks set to secure the company a $424.4 million capital markets backed source of collateralized reinsurance protection.
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According to Artemis’ sources, mortgage insurance firm Essent Guaranty is nearing completion of a first mortgage insurance-linked securities (ILS) transaction, as it seeks capital markets support for its mortgage insurance portfolio, in a deal said to be likely to secure it $360.75 million of collateralized reinsurance capacity.
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