Enact Completes Forward XOL Reinsurance Transaction as Part of its Diversified Credit Risk Transfer Program
RALEIGH, N.C., Feb. 01, 2024 (GLOBE NEWSWIRE) — Enact Holdings, Inc. (Nasdaq:ACT) (Enact), a leading provider of private mortgage insurance through its insurance subsidiaries, today announced that its flagship legal entity, Enact Mortgage Insurance Corporation, has secured approximately $255 million of additional excess of loss (XOL) reinsurance coverage. This credit risk transfer (CRT) transaction covers a portion of expected new insurance written for the 2024 book year (policies written from January 1, 2024 through December 31, 2024), and is effective January 1, 2024. Reinsurance coverage is provided by a panel of reinsurers each currently rated “A-” or better by Standard & Poor’s or A.M. Best Company, Inc.
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