Radian Group Unit Signs ~$373M Excess of Loss Reinsurance Agreement With Third-Party Reinsurance Providers
Benzinga Newsdesk 11 months ago
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Radian Group Inc. (NYSE: RDN) announced today that its wholly owned subsidiary, Radian Guaranty Inc., has agreed to principal terms on an excess of loss (XOL) reinsurance arrangement with a panel of highly rated
Radian Group Inc. (NYSE: RDN) announced today that its wholly owned subsidiary, Radian Guaranty Inc., has agreed to principal terms on an excess of loss (XOL) reinsurance arrangement with a panel of highly rated third-party reinsurance providers. This arrangement is consistent with the company's use of risk distribution strategies to effectively manage capital and proactively mitigate risk.
The agreement, which remains subject to final documentation, secures approximately $373 million of XOL reinsurance coverage on certain policies written from 2016 through 2021. The agreement is expected to close in December with an effective date of December 1, 2025.