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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 →

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 →

Gallagher Re helped Arch to more mortgage reinsurance diversification

In securing its latest Bellemeade Re mortgage insurance-linked securities (ILS) transaction, sponsor Arch Capital Group also benefited from $93.21 million of traditional mortgage reinsurance placed alongside the capital markets deal, with the support of broker Gallagher Re. Gallagher Re has been placing traditional mortgage reinsurance alongside Arch's Bellemeade Re mortgage ILS read the full article →

Aspen hires Rippert from Arch as EVP, Head of Mortgage

Aspen Insurance Holdings Limited, the Bermuda headquartered insurance and reinsurance group, has made a key hire for its mortgage re/insurance business, taking Arch Capital's Andrew Rippert as EVP and Head of Mortgage. Rippert will join Aspen from June 7th 2021 and will report to Christian Dunleavy, Chief Underwriting Officer Aspen Reinsurance read the full article →

Gallagher Re secured $140m of reinsurance for Arch’s Bellemeade program in 2020

Global reinsurance broker Gallagher Re, part of the Gallagher group, successfully brokered $140 million of traditional mortgage reinsurance for Arch Capital during 2020, as part of the firms Bellemeade Re mortgage insurance-linked securities (ILS) program. Arch Mortgage Insurance sponsored the issuance of over $1.55 billion of Bellemeade Re mortgage insurance-linked notes read the full article →

Mortgage ILS market demonstrated resiliency through COVID-19: Fitch

The mortgage insurance-linked securities (ILS) market has demonstrated its resiliency through the COVID-19 pandemic, as issuance came back to market despite the uncertainty created by a sharp increase in delinquencies, according to rating agency Fitch. Fitch explains that the elevated levels of delinquencies are partly due to the enactment of the read the full article →