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New $488m Eagle Re 2020-1 mortgage ILS reduces cost-of-capital: Radian

U.S. mortgage insurer Radian Guaranty, part of the Radian Group, has now successfully completed its latest and third mortgage insurance-linked securities (ILS) transaction, with a $488.4 million Eagle Re 2020-1 Ltd. transaction.The arrangement sees Radian Guaranty now benefiting from a new capital markets backed source of excess-of-loss mortgage reinsurance protection, read the full article →

Essent Guaranty’s Radnor Re 2020-1 mortgage ILS upsizes to $496m

The latest mortgage insurance-linked securities (ILS) transaction to be sponsored by insurer Essent Guaranty has now completed, with Radnor Re 2020-1 Ltd. providing the company an upsized $496 million of capital markets backed excess of loss reinsurance protection for its mortgage insurance portfolio.This is Essent's fourth mortgage insurance-linked securities (ILS) read the full article →

Essent brings fourth mortgage ILS to market, $421.6m Radnor Re 2020-1

Essent Guaranty has returned with its fourth mortgage insurance-linked securities (ILS) transaction and its first of 2020, as it seeks to expand on its capital markets backed sources of excess-of-loss mortgage reinsurance protection with a new $421.6 million Radnor Re 2020-1 Ltd. transaction.Essent's new transaction was actually the first mortgage read the full article →

Radian in third mortgage ILS, with $488.4m Eagle Re 2020-1 Ltd.

U.S. mortgage insurer Radian Guaranty, part of the Radian Group, has returned to the capital markets for another slice of mortgage reinsurance from a securitized catastrophe bond like structure, with a $488.4 million Eagle Re 2020-1 Ltd. transaction.It's Radian Guaranty's third venture into the insurance-linked securities (ILS) market for mortgage read the full article →

Genworth in first mortgage ILS, a $302.8m Triangle Re 2019-1 deal

Genworth Mortgage Insurance, the mortgage insurer subsidiary of Genworth Financial, has sponsored its first mortgage insurance-linked securities (ILS) transaction, successfully securing $302.8 million of reinsurance from a Triangle Re 2019-1 Ltd. deal.Genworth joins the other major U.S. mortgage insurers that are now regularly tapping the capital markets using a catastrophe read the full article →

Mortgage insurers use of ILS deemed ratings positive by Moody’s

Ratings agency Moody's Investors Service has highlighted the use of insurance-linked securities (ILS) structures as a way to secure mortgage reinsurance capacity from the capital markets as beneficial to mortgage insurers strategies.The ratings agency has adjusted its opinion on a number of the leading U.S. mortgage insurance companies, upgrading some read the full article →

Arch’s mortgage ILS pass $4.7bn as $577m Bellemeade Re 2019-4 closes

The fourth mortgage insurance-linked securities (ILS) transaction of the year for Bermuda-headquartered re/insurer Arch Capital Group Ltd. takes its total issuance of mortgage ILS notes to over $4.7 billion, thanks to the $577 million Bellemeade Re 2019-4 Ltd. deal.As we reported over a week ago, Arch Capital returned to the read the full article →

Arch sponsoring $577m Bellemeade Re 2019-4 mortgage ILS

Bermuda-headquartered re/insurer Arch Capital Group Ltd. is back in the capital market for another mortgage insurance-linked securities (ILS) deal, with its newest transaction set to be a $577.28 million Bellemeade Re 2019-4 Ltd. issuance.Arch Capital has steadily increased the amount of mortgage insurance risk it lays off to capital market read the full article →

ILS is insulation for adverse mortgage insurance losses: NMI CEO Merkle

Mortgage insurance specialist NMI Holdings, Inc. successfully completed its third and largest insurance-linked securities (ILS) transaction, the $327 million Oaktown Re III Ltd., and CEO Claudia Merkle highlighted how these capital market backed reinsurance transactions insulate it against adverse losses.NMI returned recently to secure $327 million of excess of loss read the full article →

ILS to be integral to mortgage insurers’ risk transfer: Capsicum Re’s Mathews

The type of growth witnessed in mortgage insurance-linked securities (ILS) transactions in 2018 is most likely to be replaced with a more normalised growth rate, with ILS capacity expected to become an integral part of mortgage insurers’ programmes, according to Capsicum Re’s Stephen Mathews.Since the first two Bellemeade Re transactions read the full article →