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

Core Insights - Enact Holdings, Inc. has secured approximately $90 million in additional excess of loss reinsurance coverage, effective June 1, 2024, for existing mortgage insurance policies written from July 1, 2023, to December 31, 2023 [1] - The reinsurance coverage is provided by a panel of reinsurers rated "A-" or better by S&P and A.M. Best, and "A3" or better by Moody's, indicating a strong credit quality [1] - The transaction is part of Enact's credit risk transfer strategy aimed at minimizing credit risk and enhancing capital efficiency [2] Company Overview - Enact Holdings, Inc. operates primarily through its wholly-owned subsidiary, Enact Mortgage Insurance Corporation, and has been a leading provider of private mortgage insurance in the U.S. since 1981 [3] - The company focuses on helping individuals achieve homeownership by partnering with lenders to provide best-in-class service, underwriting expertise, and risk management [3] - Enact is headquartered in Raleigh, North Carolina, and aims to positively impact the communities it serves in a sustainable manner [3]