Essent taps ILS market for $496m

Mortgage insurer Essent Group has acquired $495.9 million of reinsurance coverage from the capital markets for mortgage insurance policies it has written.

The insurance-linked securities transaction was done through Radnor Re 2020-1 Ltd, a newly formed Bermudian special purpose insurer.

This was the fourth time fast-growing Bermudian-based Essent has tapped the capital markets and the largest deal so far.

The fully collateralised excess of loss reinsurance coverage boosts Essentís capacity for writing mortgage insurance, while protecting its own balance sheet.

Radnor Re 2020-1 Ltd has funded its reinsurance obligations through the issuance of six classes of mortgage insurance-linked notes, with ten-year legal maturities, to eligible third-party capital markets investors in an unregistered private offering.

You must be registered or signed-in to post comment or to vote.

Published Feb 3, 2020 at 8:00 am (Updated Feb 3, 2020 at 12:05 am)

Essent taps ILS market for $496m

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon

  • Take Our Poll

    Today's Obituaries

    eMoo Posts