Radian Completes Acquisition of Inigo, Becoming a Global Multi-Line Specialty Insurer

12 In September 2025, Radian announced it had entered into a definitive agreement to acquire Inigo in a primarily all-cash transaction. The purchase price paid at closing, net of certain adjustments, was $1.67 billion. Inigo's estimated tangible equity at year end 2025 was $1.16 billion, resulting in a net purchase price multiple of approximately 1.4 times tangible equity. The transaction was funded by Radian's available liquidity sources and by using excess capital from its mortgage insurance subsidiary, R ...