Enact Mortgage Insurance Enters Quota Share Reinsurance Agreement With Broad Panel Of Reinsurers
Portfolio Pulse from Benzinga Newsdesk
Enact Mortgage Insurance has entered into a quota share reinsurance agreement with a broad panel of reinsurers. The agreement stipulates that Enact will cede about 21% of a portion of expected new insurance written from January 1, 2024, to December 31, 2024, subject to certain conditions.
January 03, 2024 | 9:49 pm
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Enact Mortgage Insurance's reinsurance agreement is a strategic move to manage risk by ceding 21% of expected new insurance written in 2024.
The reinsurance agreement is likely to be viewed positively by investors as it helps Enact Mortgage Insurance to diversify its risk profile and could potentially stabilize its earnings and capital position. This could lead to increased investor confidence and a potential short-term uplift in ACT's stock price.
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