ESSENT GROUP LTD. (NYSE:ESNT) Files An 8-K Other EventsItem 8.01.Other Events
On March23, 2018, Essent Group Ltd. (the "Company") issued a press release announcing that its wholly owned subsidiary, Essent Guaranty, Inc. ("Essent"), has entered into a $424.4 million fully collateralized excess of loss reinsurance transaction with Radnor Re 2018-1 Ltd., a newly formed Bermuda special purpose insurer ("Radnor Re"), covering mortgage insurance policies written by Essent in 2017. Radnor Re has funded its reinsurance obligations through the issuance of $424.4 million of mortgage insurance-linked notes. A copy of the press release is filed herewith as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
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Exhibit No. |
Description |
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Press Release issued by Essent Group Ltd. dated March 23, 2018 |
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Essent Group Ltd. ExhibitEX-99.1 2 pressreleaserecrtclosing.htm EXHIBIT 99.1 Exhibit Exhibit 99.1Essent Group Ltd. Announces Closing of $424.4 Million Reinsurance Transaction and Related Mortgage Insurance-Linked Notes Offering HAMILTON,…To view the full exhibit click here
About ESSENT GROUP LTD. (NYSE:ESNT)
Essent Group Ltd. is a private mortgage insurance company. The Company is engaged in serving the United States housing finance industry. It offers private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. The primary mortgage insurance operations are conducted through Essent Guaranty, Inc. (Essent Guaranty), a subsidiary of the company, which maintains operations centers and operates additional underwriting and service centers in Winston-Salem, North Carolina and Irvine, California. Essent Guaranty is a mortgage insurer and is licensed to write mortgage insurance in all 50 states and the District of Columbia. The Company offers primary and pool private mortgage insurance. Primary mortgage insurance provides protection on individual loans at specified coverage percentages. Pool insurance is used to provide additional credit for certain secondary market and other mortgage transactions.