PHILADELPHIA--(BUSINESS WIRE)--Radian Group Inc. (NYSE: RDN) today announced that its wholly owned subsidiary, Radian Guaranty Inc. has obtained $390 million of fully collateralized excess of loss reinsurance coverage from Eagle Re 2020-2 Ltd. (Eagle Re). The excess of loss reinsurance covers eligible mortgage insurance policies written by Radian Guaranty in October 2019 through July 2020, excluding single premium payment policies. Eagle Re is a newly formed Bermuda special purpose insurer and is not a subsidiary or affiliate of Radian Guaranty.

Eagle Re has funded its reinsurance obligations by issuing five classes of mortgage insurance-linked notes (ILNs) with a 10-year maturity and 7-year call option to eligible third-party capital markets investors in an unregistered private offering. The ILNs are non-recourse to Radian Group and its subsidiaries and affiliates.

About Radian

Radian Group Inc. (NYSE: RDN) is ensuring the American dream of homeownership responsibly and sustainably through products and services that include industry-leading mortgage insurance and a comprehensive suite of mortgage, risk, title, valuation, asset management and other real estate services. We are powered by technology, informed by data and driven to deliver new and better ways to transact and manage risk. Visit www.radian.com to learn more about how Radian is shaping the future of mortgage and real estate services..