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The deal will be watched closely by Radian’s handful of similar peers. -
The transaction marks the largest US market entry by a Korean non-life insurer.
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The low degree of overlap between the combining portfolios benefits both parties.
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The mortgage insurer said Inigo will continue to operate as a standalone business.
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The acquisition furthers Howden’s expansion into the US retail space.
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The CEO said the lack of portfolio crossover was highly attractive to Inigo.
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The US mortgage insurer announced its $1.7bn acquisition of Inigo earlier today.
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The deal becomes part of a wave of carrier dealmaking.
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There will also be a renewed focus on organic growth, both in P&C and across US and international operations.
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Insurance Insider reported earlier today of the asset manager’s foray into the MGA space.
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The deal represents a first entry into the US MGA market for the $1.1tn asset manager.
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