Radnor Re to issue $327m in mortgage insurance-linked securities

Bermuda-based mortgage re/insurer Essent Guaranty has had its insurance-linked securities company Radnor Re 2024-1 registered by the Bermuda Monetary Authority. 

Radnor Re 2024-1 expects to issue $326.9 million in five tranches of mortgage insurance-linked  securities, according to DBS Morningstar. 

The BMA also licensed two long term re/insurers among the five new insurance entities registered by the BMA in August. 

Aquarian Wealth Partners Reinsurance (ISAC) and Generational Reinsurance (ISA) were registered as Class C insurers, meaning they have less than $250 million in capital.

One single parent captive - Revias Insurance - was also formed.  

The BMA also registered one insurance manager, Somerset Services. 

To date, the BMA has registered 42 insurance entities including 34 re/insurance companies and eight intermediaries. 

For the same period in 2023, the BMA registered 43 entities, of which 39 were re/insurers and four were intermediaries. 

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