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News Breaks | | | | November 12, 2012 | | 08:02 EDT |  | RDN | Radian to commute $827M financial guaranty reinsurance portfolio to FGIC
Radian Group announced that on November 9, its financial guaranty insurance subsidiary, Radian Asset Assurance Inc., entered into an agreement with Financial Guaranty Insurance Company which, if consummated, would commute the remaining $827 million of outstanding par reinsured by Radian Asset from FGIC. This portfolio represents 13% of Radian Asset’s total reinsurance exposure as of September 30 and includes $196M of Radian Asset’s $225M in net par outstanding as of September 30 related to Jefferson County, Alabama sewer warrants. | |
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