Enact Completes Forward XOL Reinsurance Transaction as Part of its Diversified Credit Risk Transfer Program
Enact Holdings, Inc. (ACT)
US:NYSE Investor Relations:
advisorshares.com/fund/act
Company Research
Source: GlobeNewswire
RALEIGH, N.C., Feb. 01, 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 $255 million of additional excess of loss (XOL) reinsurance coverage. This credit risk transfer (CRT) transaction covers a portion of expected new insurance written for the 2024 book year (policies written from January 1, 2024 through December 31, 2024), and is effective January 1, 2024. Reinsurance coverage is provided by a panel of reinsurers each currently rated “A-” or better by Standard & Poor’s or A.M. Best Company, Inc. “We’re pleased to have completed this XOL transaction,” said Rohit Gupta, President and CEO of Enact. "Enact continues to be a market leader with its comprehensive CRT program and this transaction further reflects our ability to distribute and minimize credit risk and enhanc
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ACT
Earnings
- 5/1/24 - Beat
ACT
Analyst Actions
- 4/3/24 - JP Morgan
ACT
Sec Filings
- 5/3/24 - Form 10-Q
- 5/1/24 - Form 4
- 5/1/24 - Form 8-K
- ACT's page on the SEC website