Radian agrees to buy Inigo for $1.7 billion and plans to divest three units
Radian Group agreed on September 18, 2025 to acquire all shares of Lloyd's specialty insurer Inigo Limited for $1.7 billion, mostly in cash, with the price subject to a tangible net asset value adjustment. The same day, Radian announced a plan to sell its Mortgage Conduit, Title and Real Estate Services businesses, which it expects to complete by the third quarter of 2026. The closing depends on regulatory approvals and is expected in the first quarter of 2026.
Key points
- Purchase price of $1.7 billion, funded partly by a $600 million, 10-year intercompany note from Radian Guaranty at 6.50% interest, with the rest from Radian's available liquidity.
- Closing expected in the first quarter of 2026, subject to approvals from the UK Prudential Regulation Authority, Lloyd's and the Texas Department of Insurance.
- Planned divestiture of the All Other businesses, expected to be completed no later than the third quarter of 2026, with results reported as discontinued operations starting with the quarter ended September 30, 2025.
- Company expects mid-teens percentage EPS accretion and about 200 basis points of return on equity accretion in the first full year after closing.
The filing
Written by AI on Nov 8, 2026, 1:00 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 18, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.