Credit Risk Transfer Update: As of December 31, 2023
CREDIT RISK TRANSFER (CRT) UPDATE
FOR PERIOD ENDING: DECEMBER 31, 2023
FEBRUARY 9, 2024
DISCLAIMER
This presentation may include "forward-looking statements" which are subject to known and unknown risks and uncertainties, many of which may be beyond our control. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," or "potential" or the negative thereof or variations thereon or similar terminology. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainties and other factors. Although it is not possible to identify all of these risks and factors, they include, among others, the following: changes in or to
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COMPLETED TRANSACTIONS: CLOSING INFORMATION
- Radnor Re 2020-2 was terminated in
August 2022
* Pricing has not been publicly disclosed for XOL agreements
3
COMPLETED TRANSACTIONS: CLOSING INFORMATION CONT.
- Radnor Re 2019-2 was terminated in
February 2023 - Radnor Re 2018-1 was terminated in
March 2023 - Radnor Re 2019-1 was terminated in
December 2023
* Pricing has not been publicly disclosed for XOL agreements
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CRT SUMMARY: AS OF CLOSING
- Insurance Linked Note Transactions (ILN) are with Radnor Re (RMIR) entities
-
- The Radnor Re entities are Bermuda Special Purpose Insurers and are not subsidiaries of nor affiliated with
Essent Group Ltd
- The Radnor Re entities are Bermuda Special Purpose Insurers and are not subsidiaries of nor affiliated with
- Excess of Loss Agreements (XOL) are with panels of
U.S. & global reinsurers - Radnor Re 2020-2 was terminated in
August 2022 - Radnor Re 2019-2 was terminated in
February 2023 - Radnor Re 2018-1 was terminated in
March 2023 - Radnor Re 2019-1 was terminated in
December 2023
5
CRT SUMMARY: AS OF
1. Insurance Linked Note Transactions (ILN) are with Radnor Re (RMIR) entities
- The Radnor Re entities are Bermuda Special Purpose Insurers and are not subsidiaries of nor affiliated with
Essent Group Ltd
- Excess of Loss Agreements (XOL) and Quota Share (QSR) transactions are with panels of
U.S. & global reinsurers - Remaining Retention refers to retained outstanding first loss exposure
- Radnor Re 2020-1 outstanding note balance reflects impact of tender offers executed in 2023
- Reduction in PMIERs Minimum Required Assets estimated by the Company
- The totals may differ from the sum of the individual reinsurance transactions due to overlapping coverage between certain transactions
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