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Essent Guaranty's mortgage ILS deal upsizes to $424M

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Essent Guaranty's mortgage ILS deal upsizes to $424M

Essent Guaranty Inc.'s Radnor Re 2018-1 Ltd. mortgage insurance-linked securities deal upsized to $424.4 million from the initial size of $360 million, Artemis reported.

The $161.3 million class M-1 tranche upsized to $190.0 million, the $178.3 million class M-2 tranche grew to $209.7 million and the $21.2 million class B-1 tranche increased to $25.0 million, according to the report.

The deal would help Essent secure capital markets backed source of collateralized reinsurance protection.