Mortgage Insurance Linked Notes news

A number of mortgage insurance-linked securities, or mortgage insurance-linked notes, transactions have had their credit ratings upgraded, as the fundamentals related to them improved on faster pay-downs have helped to build up credit enhancement associated with them.

Bermuda headquartered re/insurer Arch Capital eventually secured $201 million of capital markets backed mortgage reinsurance protection with its latest ILS issuance, the Bellemeade Re 2022-2 Ltd. deal, using traditional reinsurance to top-up the rest of the layers.

Mortgage insurer Essent Guaranty, a wholly owned subsidiary of Essent Group Ltd., has completed its latest insurance-linked securities (ILS) placement, securing $237.9 million of fully collateralised excess of loss reinsurance via Bermuda-based special purpose insurer (SPI), Radnor Re 2022-1 Ltd.

Bermuda headquartered re/insurer Arch Capital is seeking up to $358.4 million of capital markets backed mortgage reinsurance protection with its latest ILS issuance, a Bellemeade Re 2022-2 Ltd. deal.

Mortgage focused insurer Essent Guaranty has returned to reopen the mortgage insurance-linked securities (ILS) marketplace after a hiatus with no deals for a few months, bringing its first of the year, as it seeks almost $304 million of mortgage reinsurance from this Radnor Re 2022-1 Ltd. issuance.

Mortgage insurance companies operating in the United States are in a far better financial position now thanks to heavy use of reinsurance, including their issuance of mortgage insurance-linked securities (ILS), or mortgage insurance-linked notes (ILN), Moody’s Investors Service has said.

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.

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.

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.

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.