Radian will acquire specialty insurer, sell title business

Radian Group Inc. announced it is buying Inigo Limited, a Lloyd’s specialty insurer, for $1.7 billion, and that it also plans to sell its title operation by the end of the third quarter of next year. The primarily all-cash transaction to acquire Inigo will be funded from Radian’s available liquidity sources and excess capital from its subsidiaries. Meanwhile, the planned divestiture of its mortgage conduit, title and real estate services businesses was approved by Radian’s Board of Directors. Read on to learn more.