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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 →

MGIC restructures quota share, but mortgage ILS help on PMIERs

Mortgage risk insurer MGIC has revealed that the removal of maximum coverage levels in certain states resulted in the partial termination and restructuring of its 2015 quota share reinsurance arrangement with an affiliate, which subsequently impacted its Q2 results.In the second-quarter of 2019, MGIC’s ceded premiums written and earned increased read the full article →

Arch’s record $701m mortgage ILS puts it at “forefront of managing capital & risk”

The completion of Bermuda-based re/insurer Arch Capital Group Ltd.'s latest and largest mortgage insurance-linked securities (ILS) transaction seen to-date, a $701 million Bellemeade Re 2019-3 Ltd. shows the firm is at the "forefront" when it comes to managing capital and risk, an executive said today.Arch Capital Group has become a read the full article →

NMI issuing its largest mortgage ILS yet, a $327m Oaktown Re III Ltd.

Mortgage insurance specialist underwriter NMI Holdings, Inc. has returned with its third insurance-linked securities (ILS) transaction and it is the largest to-date, a $327 million Oaktown Re III Ltd. transaction.This third issuance of mortgage insurance-linked notes for sponsor NMI Holdings and its subsidiary National Mortgage Insurance Corp., follows the issuance read the full article →

Arch issuing largest mortgage ILS to-date, $701m Bellemeade Re 2019-3

Bermuda-based re/insurer Arch Capital Group Ltd. is back in the capital markets with the largest mortgage insurance-linked securities (ILS) transaction seen to-date, a $701 million Bellemeade Re 2019-3 Ltd. that also features the first-ever triple-A rated tranche of mortgage insurance-linked notes.Arch Capital Group has become a significant user of capital read the full article →

Essent Guaranty’s third mortgage ILS completed for $333.8m of reinsurance

Bermuda based specialist mortgage insurer Essent Guaranty has completed its third mortgage insurance-linked securities (ILS) issuance, with the successful placement and sale of notes for the $333.8 million Radnor Re 2019-2 Ltd. transaction.As we explained last week, Essent Guaranty had returned to the capital markets to expand on its collateralized read the full article →

Essent in third mortgage ILS deal a, $333.84m Radnor Re 2019-2

Specialist mortgage insurance company Essent Guaranty has returned to the capital markets to further expand its collateralized mortgage reinsurance protection with a $333.84 million Radnor Re 2019-2 Ltd. transaction that will be its third mortgage insurance-linked securities (ILS) issuance.Radnor Re 2019-2 will actually be Essent Guaranty's second mortgage ILS issuance read the full article →

MGIC prices second mortgage ILS deal, a $315.74m Home Re 2019-1

Mortgage insurance underwriter MGIC, which is among the largest writers of mortgage insurers in the United States, is returning for its second mortgage insurance-linked securities (ILS) and insurance-linked notes deal, bringing a $315.74 million Home Re 2019-1 Ltd. transaction to market.The transaction marks the second visit to the capital markets read the full article →

Arch has now secured $3.5bn of mortgage reinsurance with Bellemeade ILS

Arch Capital Group, the Bermuda headquartered insurance and reinsurance firm, has now secured roughly $3.5 billion of reinsurance for its U.S. mortgage insurance book from the capital markets, thanks to the completion of another $621 million Bellemeade Re 2019-2 Ltd. ILS transaction.Arch Mortgage Insurance (Arch MI), the U.S. mortgage focused read the full article →