Mortgage Insurance Linked Notes news

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.

Bermudian insurance and reinsurance specialist Arch Capital Group Ltd. has returned to the capital markets for a third and largest yet in the series of the Bellemeade mortgage insurance-linked securities (ILS) transactions, sponsoring a $368 million Bellemeade Re 2017-1 Ltd. deal.

Arch Capital Group said that it intends to sponsor two more Bellemeade Re mortgage insurance linked security ILS transactions to cover its 2017 book and that it would like to sponsor additional takedowns annually going forwards, as it looks to the capital markets to help it managed its tail risks.

NMI Holdings has successfully completed its first securitization of mortgage insurance risks, with the issuance of the $211.32 million of Oaktown Re Ltd. (Series 2017-1) insurance-linked notes that have secured it a source of reinsurance from the capital markets that also helped free up underwriting capital, according to the CEO.

The NMI Holdings sponsored new mortgage insurance-linked securities (ILS) transaction we wrote about this week has now been named as Oaktown Re Ltd. and the three tranches of mortgage insurance linked notes issued have all been priced.

NMI Holdings, Inc. has announced today that it is to launch a new mortgage insurance-linked securities (ILS) transaction, as it looks to secure reinsurance by transferring some of the risks associated with a portfolio of mortgage insurance policies to the capital markets.

Global insurer AIG has secured almost $300m of collateralized reinsurance from capital market investors for the legacy mortgage insurance portfolio of its United Guaranty subsidiary, in a Bellemeade Re II Ltd. (Series 2016-1) insurance-linked securities (ILS) transaction.

AIG sees its recently completed near-$300m Bellemeade Re Ltd. mortgage insurance-linked ILS transaction as part of a wider strategy to expand the insurance-linked securities market, a goal which helps the insurer achieve a more efficient and flexible capital structure.

American International Group (AIG) has completed a unique (in recent times) insurance-linked securities (ILS) transaction named Bellemeade Re Ltd., which transfers some of its mortgage insurance portfolio risks to capital market investors.