Essent Group unveils $439m ILS deal

Bermuda-based mortgage insurance provider Essent's wholly-owned subsidiary Essent Guaranty has closed a $439.4 million reinsurance deal with Radnor Re 2020-1.

The newly-formed Bermuda special purpose insurer will provide fully collateralised excess of loss reinsurance coverage on Essent mortgage insurance policies written between April and September 2021

Radnor Re 2020-1 is funding the reinsurance through four classes of mortgage insurance-linked notes, with 10-year legal maturities, to eligible third party capital markets investors in an unregistered private offering.

Radnor Re was the first mortgage insurance note vehicle of 2020 Essent Guaranty sponsored and is its seventh mortgage insurance-linked securities (ILS) transaction.

Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.

Already registered?

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Adrian Tapping at atapping@newtonmedia.co.uk

More on this story

Insurance

High stakes and smart retreats: the biggest 2025 deals

29 December 2025 From Gallagher’s $13.45bn blockbuster buy to Markel’s exit from global reinsurance, 2025 delivered surprises on both ends of the M&A spectrum. We take a closer look at the deals and retreats that shook the market.

Insurance

The great reshuffle: people moves that jolted re/insurance in 2025

24 December 2025 From London to Bermuda, the market watched exits jolt the industry, teams reshuffle and others fall into place with far less fanfare.

Insurance

Inside 2025’s Talent War: producers, poachers and brokerages lawyer up

22 December 2025 Brokerage complaints spin tawdry tales to frame defections as low-rent theft & espionage.