Enact Completes XOL Reinsurance Transaction as Part of its Diversified Credit Risk Transfer Program

June 27, 2024

https://www.globenewswire.com/news-release/2024/06/27/2905537/0/en/Enact-Completes-XOL-Reinsurance-Transaction-as-Part-of-its-Diversified-Credit-Risk-Transfer-Program.html

RALEIGH, N.C., June 27, 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 $90 million of additional excess of loss (XOL) reinsurance coverage. This credit risk transfer (CRT) transaction covers a portion of existing mortgage insurance policies written from July 1, 2023 through December 31, 2023 and is effective June 1, 2024. Reinsurance coverage is provided by a panel of reinsurers each currently rated “A-” or better by Standard & Poor’s (“S&P”) and A.M. Best Company, Inc., and rated “A3” or better by Moody’s.

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