Enact Completes Sixth Mortgage Insurance Linked Note Credit Risk Transaction as Part of its Diversified Credit Risk Transfer Program
RALEIGH, N.C., Nov. 15, 2023 (GLOBE NEWSWIRE) — Enact Holdings, Inc. (Nasdaq:ACT) (Enact), a leading provider of private mortgage insurance through its insurance subsidiaries, announced that its flagship legal entity, Enact Mortgage Insurance Corporation, has secured $248 million of fully collateralized excess of loss reinsurance coverage through the issuance of an insurance-linked note (“ILN”) transaction with Triangle Re 2023-1 Ltd. (“Triangle Re 2023-1”). This ILN transaction provides coverage on a portfolio of existing seasoned mortgage insurance policies written from July 1, 2022 through June 30, 2023.
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