Mortgage reinsurance ILS issuer changes directors

Joyce Yeung has stepped down as a director of cat bond Oaktown Re VI and has been replaced by Keisha Thomas, according to a filing with the Bermuda Stock Exchange.

Oaktown Re VI is one of a series of ILS bonds issued on behalf of National Mortgage Insurance Corporation which secure collateralized mortgage reinsurance protection from the capital markets.

In a separate filing with the Bermuda Stock Exchange, Radnor Re 2022-1 said Marco Bortoli had stepped down as a director and had been replaced by Edwin Kariuki Ndungu.

Radnor Re 2022-1 is an ILS placement made by a subsidiary of Bermuda-based Essent Guaranty, which secured $237.9 million of fully collateralised excess of loss reinsurance.