Radian obtains $498m of reinsurance coverage from Eagle Re
Radian obtains $498m of reinsurance coverage from Eagle Re 23-04-2021 08-01-2020 Radian Guaranty, the wholly owned subsidiary of Radian Group, has closed a $498 million mortgage insurance-linked notes (ILN) transaction with Eagle Re 2021-1 (Eagle Re), the newly formed Bermudian special purpose insurer. The $498 million of fully collateralised excess of loss reinsurance covers eligible mortgage insurance policies written by Radian Guaranty in August 2020 through December 2020. Eagle Re financed the deal via six classes of mortgage insurance-linked notes (ILNs) with a 12.5-year maturity and sev...
Source: intelligentinsurer.com