Eagle Re 2018-1 Ltd

Three sponsors of mortgage insurance-linked securities (ILS) transactions have warned investors in the mortgage insurance linked notes that elevated loan delinquency levels in May 2020 have triggered their deals.

U.S. mortgage insurer Radian Guaranty, part of the Radian Group, has successfully completed its first mortgage insurance-linked securities (ILS) transaction, securing a slightly upsized $434 million from the Eagle Re 2018-1 Ltd. transaction, while simultaneously adding another $21 million of excess-of-loss reinsurance coverage.

U.S. mortgage insurance firm Radian Guaranty, part of the Radian Group, is the latest to join the mortgage insurance-linked securities (ILS) club, having launched a new Eagle Re 2018-1 Ltd. transaction to investors as it seeks around $410 million of reinsurance from the capital markets for its mortgage book.