Home Re 2020-1 Ltd.

The Artemis Catastrophe Bond and Insurance-linked Securities Deal Directory aims to provide a one-stop resource for information on every cat bond and ILS transaction we hold information on. The content of this Deal Directory is provided as is and there will be some omissions. Help us to keep these cat bond and ILS transaction summaries up to date by contacting us if you see an error or omission that you can correct.

Share

Home Re 2020-1 Ltd. – At a glance:

  • Issuer: Home Re 2020-1 Ltd.
  • Cedent / sponsor: MGIC Investment Corporation
  • Placement / structuring agent/s: Unknown
  • Risk modelling / calculation agents etc: Unknown
  • Risks / perils covered: Mortgage insurance risks
  • Size: $413m
  • Trigger type: Indemnity
  • Ratings: Moody's rated
  • Date of issue: Oct 2020

Home Re 2020-1 Ltd. – Full details:

This is the third mortgage insurance-linked notes (ILN) transaction from MGIC Investment Corporation.

The company registered a new Bermuda-based special purpose insurer (SPI), Home Re 2020-1 Ltd. (HMIR 2020-1) for this issuance of a targeted almost $413 million of mortgage insurance linked notes.

The transaction was successfully placed, securing MGIC the targeted collateralized mortgage reinsurance protection.

The Home Re 2020-1 mortgage insurance-linked securities (ILS) issuance was split into the following tranches, along with their Moody’s ratings:

$123.9m – M-1A, Definitive Rating Assigned Baa2 (sf)

$123.9m – M-1B, Definitive Rating Assigned Baa3 (sf)

$73.4m – M-1C, Definitive Rating Assigned Ba2 (sf)

$68.8m – M-2, Definitive Rating Assigned B1 (sf)

$22.9m – B-1, Definitive Rating Assigned B2 (sf)

———————————————————————
Artemis Live - ILS and reinsurance video interviews and podcastView all of our Artemis Live video interviews and subscribe to our podcast.

All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance video content and video interviews can be accessed online.

Our Artemis Live podcast can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.

Print Friendly, PDF & Email

« Go back to the Catastrophe Bond Deal Directory

Help us keep this valuable resource up to date. If you have information on a catastrophe bond or insurance-linked security deal we have not covered or can see something that we should change, please contact us to let us know.