Mortgage Insurance Linked Notes news

This page archives all of our news coverage on mortgage insurance-linked notes transactions.

Mortgage insurance-linked notes (ILN) or mortgage insurance-linked securities (ILS) are transactions that transfer mortgage insurance risks to capital market investors using a similar structure to the catastrophe bond.

Mortgage insurers use the issuance of mortgage insurance-linked notes as a way to source efficient reinsurance capital from the capital markets and to diversify their sources of reinsurance outside of just traditional reinsurers.

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MGIC targets first mortgage ILS of year, a $437m Home Re 2022-1

MGIC Investment Corporation is back in the capital markets to secure a fresh source of collateralized reinsurance with its first mortgage insurance-linked securities (ILS) deal of the year, sponsoring a $437 million Home Re 2022-1 Ltd. transaction. This will be be the sixth time that we've recorded MGIC Investment Corporation tapping read the full article →

Mortgage insurance-linked securities upgraded on positive outlook

A number of mortgage insurance-linked securities (ILS) issuances have had their ratings upgraded, as Moody's noted improved credit enhancement and reduced projected losses across a series of the deals. The first to come to light, were four tranches of notes issued as part of Mortgage Guaranty Insurance Corporation's $399 million Home read the full article →

Arch gets $315m of mortgage reinsurance with Bellemeade Re 2022-1

Arch Capital has successfully secured roughly $315 million of mortgage reinsurance protection through its Bellemeade Re 2022-1 Ltd. mortgage insurance-linked notes issuance and a traditional reinsurance placement that sits alongside it. As we explained earlier this month, Arch Capital was back in the capital markets with its latest insurance-linked securities (ILS) read the full article →

Arch targets up to $317m Bellemeade Re 2022-1 mortgage ILS issuance

Arch Capital is aiming to secure up to $317 million of mortgage reinsurance protection from its first insurance-linked securities (ILS) transaction of the year, by sponsoring a Bellemeade Re 2022-1 Ltd. mortgage insurance-linked notes issuance. There's some uncertainty over the eventual size of this transaction, according to our sources, but the read the full article →

Radian secures $484m of reinsurance with Eagle Re 2021-2 mortgage ILS

Radian Group has now successfully secured another roughly $484 million of collateralized mortgage reinsurance for its Radian Guaranty subsidiary with the completion of its latest Eagle Re 2021-2 Ltd. issuance of mortgage insurance-linked securities (ILS). Radian returned to the capital markets at the end of October with what has now become read the full article →

Essent seeks second mortgage ILS of year, $435m Radnor Re 2021-2

Mortgage focused insurer Essent Guaranty has returned to the capital markets seeking another $435 million of mortgage reinsurance protection through its latest mortgage insurance-linked securities (ILS) issuance, with a Radnor Re 2021-2 Ltd. deal. For Essent Guaranty, this will be its seventh issuance of mortgage insurance-linked notes through the Radnor Re read the full article →

Annual mortgage ILS issuance exceeds $5bn for first time in 2021

A record 12 mortgage insurance-linked securities (ILS) transactions have completed so far in 2021, taking annual issuance to more than $5 billion for the very first time, as shown by the Artemis Deal Directory. Currently, mortgage ILS (often termed mortgage insurance-linked notes ILN) issuance is running approximately 18% higher than the read the full article →

Radian prices $484m Eagle Re 2021-2 mortgage ILS deal

Radian Group is back in the capital markets in search of more collateralized mortgage reinsurance for its Radian Guaranty subsidiary, with a $484 million target for an Eagle Re 2021-2 Ltd. issuance of mortgage insurance-linked securities (ILS). This new mortgage insurance-linked notes transaction will be Radian Guaranty's sixth and if successful read the full article →

NMI gets $364m of mortgage reinsurance with new Oaktown Re ILS

Mortgage insurance group NMI Holdings, Inc. has now successfully secured $364 million of collateralised mortgage reinsurance protection from the capital markets with the Oaktown Re VII Ltd. transaction, which is its second mortgage insurance-linked notes issuance of the year. As we explained earlier this month, NMI was back in the capital read the full article →

NMI sponsoring $364m Oaktown Re VII mortgage insurance-linked notes

Mortgage insurance group NMI Holdings, Inc. has returned to the capital markets to sponsor its second mortgage insurance-linked notes issuance of the year, targeting an almost $364 million source of collateralised mortgage reinsurance with an Oaktown Re VII Ltd. transaction. Earlier this year, NMI sponsored its largest issuance of mortgage insurance-linked read the full article →