RADIAN GROUP (RDN) Company Report

Radian Group Inc. entered into a Credit Agreement on November 4, 2025.
The agreement designates Royal Bank of Canada as the Administrative Agent, with RBC Capital Markets and Citizens Bank, N.A. serving as Joint Lead Arrangers and Joint Book Runners.
The total commitment under this Credit Agreement is $500,000,000.00.
The proceeds from the credit extensions are intended for working capital, general liquidity, general corporate purposes, and growth initiatives.

Nov 7, 2025, 9:16 PM

8-K

Radian Group Reports Q3 2025 Results and Provides Update on Strategic Transformation

RDN

Earnings

M&A

Guidance Update

Radian Group reported net income from continuing operations of $153 million, or $1.11 per diluted share, and total revenues of $303 million for the third quarter of 2025.
The company is strategically transforming into a global multi-line specialty insurer through the $1.7 billion acquisition of Inigo, expected to close in Q1 2026, and the planned divestiture of its mortgage conduit, title, and real estate services businesses by Q3 2026.
The Inigo acquisition is projected to deliver mid-teen operating earnings per share accretion and approximately 200 basis points of ROE accretion starting in year one.
Holding company liquidity reached $995 million by the end of Q3 2025, with projections to be approximately $1.8 billion by early 2026, while share repurchases are currently paused to fund the Inigo acquisition.

Nov 5, 2025, 4:00 PM

Transcript

Radian Announces Inigo Acquisition and Divestiture of Non-Mortgage Businesses

RDN

M&A

New Projects/Investments

Guidance Update

Radian (RDN) announced the proposed acquisition of Inigo for $1.7 billion cash in September 2025, expected to close in Q1 2026, which is projected to be mid-teens GAAP EPS accretive and ~200 bps GAAP ROE accretive in FY 2026E. This acquisition is expected to double Radian's revenue and expand it into the Lloyd's market.
Concurrently, Radian plans to divest its Mortgage Conduit, Title, and Real Estate Services businesses within one year, anticipating a 36% reduction in expenses and a 120 bps improvement in standalone ROE. This transformation aims for mid-to-high teens ROE and 20-30% EPS accretion compared to 2024 results.
For Q3 2025, Radian reported Net Income from Continuing Operations of $153 million and Diluted Net Income from Continuing Operations Per Share of $1.11.
Total Revenues for Q3 2025 were $303 million, with Net Premiums Earned at $237 million.

Nov 5, 2025, 4:00 PM

Presentation

Radian Reports Strong Q3 2025 Results, Announces Strategic Transformation with Indigo Acquisition and Business Divestitures

RDN

Earnings

M&A

Guidance Update

Radian Group reported net income from continuing operations of $153 million or $1.11 per diluted share for Q3 2025, with total revenues of $303 million and net premiums earned of $237 million. The return on equity for continuing operations was 13.4%, and book value per share grew 9% year-over-year to $34.34.
The company is undergoing a strategic transformation, planning to divest its mortgage conduit, title, and real estate services businesses, which are now classified as held for sale with a carrying value of approximately $170 million. This divestiture process is expected to be completed by Q3 2026.
Radian announced the acquisition of Indigo, a specialty insurer, for $1.7 billion in cash, expected to close in Q1 2026. This acquisition is projected to deliver mid-teen operating earnings per share accretion and approximately 200 basis points of ROE accretion starting in year one.
Holding company liquidity grew to $995 million as of Q3 2025, with an expected $1.8 billion at the beginning of 2026, supported by dividends and an intercompany note from Radian Guaranty. Share repurchases have been paused to fund the Indigo acquisition. Operating expenses for continuing operations are anticipated to be approximately $250 million for the full year 2025 and the annual run rate for 2026.

Nov 5, 2025, 4:00 PM

Transcript

Radian Group Inc. Announces Q3 2025 Results and Strategic Transformation

RDN

Earnings

M&A

Radian Group Inc. reported diluted net income from continuing operations of $1.11 per share for the third quarter of 2025, compared to $1.09 per share for the third quarter of 2024. The company's book value per share grew 9% year-over-year to $34.34 as of September 30, 2025.
The company is on track to acquire Inigo, a highly profitable Lloyd's specialty insurer, for $1.7 billion, a strategic move expected to transform Radian into a global multi-line specialty insurer and double its total annual revenue. The transaction is expected to close in the first quarter of 2026.
Following a comprehensive strategic review, Radian announced a divestiture plan for its Mortgage Conduit, Title, and Real Estate Services businesses, with their results reclassified to discontinued operations.
Available holding company liquidity increased to $995 million as of September 30, 2025, and Radian entered into a new $500 million unsecured revolving credit facility.

Nov 5, 2025, 1:00 PM

8-K

Radian Announces Third Quarter 2025 Financial Results and Strategic Transformation

RDN

Earnings

M&A

Radian Group reported net income from continuing operations of $153 million, or $1.11 per diluted share, for the third quarter ended September 30, 2025.
The company announced a strategic transformation, including the acquisition of Inigo, a Lloyd's specialty insurer, for $1.7 billion, and a divestiture plan for its Mortgage Conduit, Title, and Real Estate Services businesses.
Book value per share increased 9% year-over-year to $34.34 as of September 30, 2025.
Primary mortgage insurance in force grew to an all-time high of $281 billion.

Nov 4, 2025, 10:17 PM

Press Release

Roadzen Completes India Subsidiary Financing Round

RDN

New Projects/Investments

Revenue Acceleration/Inflection

Guidance Update

Roadzen Inc. has completed a $7 million financing round for its India subsidiary, which was increased from $4.5 million due to strong investor demand.
This financing establishes a $91 million valuation for the standalone India business, implying a valuation of approximately $2 per share for the Nasdaq-listed parent, an almost 100% premium to its recent trading price.
The proceeds are expected to fuel over 50% revenue growth in India and accelerate global AI initiatives, with the company anticipating to achieve Adjusted EBITDA breakeven by the quarter ending December 2025.
The financing resulted in no dilution to shareholders of the Nasdaq-listed parent company and approximately ~8% dilution at the subsidiary level.

Oct 6, 2025, 12:00 PM

Press Release

Radian to acquire Inigo for $1.7 billion, transforming into a global multiline specialty insurer

RDN

M&A

New Projects/Investments

Share Buyback

Radian has entered into an agreement to acquire Inigo, a highly profitable Lloyd's specialty insurer, for $1.7 billion in an all-cash transaction, with the deal expected to close in 2026.
This acquisition represents a strategic transformation for Radian, shifting it from a leading U.S. Mortgage insurer to a global multiline specialty insurer.
The transaction is expected to deliver mid-teens operating EPS accretion and approximately 200 basis points of ROE accretion starting in year one.
The acquisition will be funded using available liquidity sources and excess capital, including a $600 million intercompany note from Radian Guaranty, without issuing new equity. Consequently, Radian has paused share repurchases in the second half of 2025 but will continue ordinary dividends.
Alongside the acquisition, Radian plans to divest its "all other" businesses, including mortgage conduit, title, and real estate services, to simplify its portfolio and focus on the new multiline strategy.

Sep 18, 2025, 12:30 PM

Transcript

Radian Group to Acquire Inigo

RDN

M&A

New Projects/Investments

Revenue Acceleration/Inflection

Radian Group announced the acquisition of Inigo for $1.7 billion in an all-cash transaction, expected to close in Q1 2026.
This acquisition is set to transform Radian into a global multi-line specialty insurer, expanding into the Lloyd's market and expected to double Radian's revenue.
The transaction is projected to be mid-teens GAAP EPS accretive and deliver ~200 bps GAAP ROE accretion in FY 2026E, funded entirely from existing liquidity and excess capital without new equity.
Inigo is a highly profitable Lloyd's specialty insurer, reporting $1.6 billion in 2025E Gross Written Premiums and a track record of mid-to-high 80's combined ratio and over 20% pre-tax return on equity.

Sep 18, 2025, 12:30 PM

Presentation

Radian Group to Acquire Inigo for $1.7 Billion and Divest Mortgage Conduit, Title, and Real Estate Services Businesses

RDN

M&A

New Projects/Investments

Revenue Acceleration/Inflection

Radian Group Inc. announced on September 18, 2025, a definitive agreement to acquire Inigo Limited, a highly profitable Lloyd’s specialty insurer, for $1.7 billion in a primarily all-cash transaction.
This acquisition is expected to deliver mid-teens percentage accretion to earnings per share and approximately 200 basis points accretion to return on equity in the first full year after closing (FY 2026E).
The transaction, funded from existing liquidity and excess capital without issuing new equity, is projected to transform Radian into a global, diversified multi-line specialty insurer and double its total annual revenue.
Concurrently, Radian plans to divest its Mortgage Conduit, Title, and Real Estate Services businesses, a process expected to be completed within one year, which is projected to reduce expenses by 36% and improve Radian's standalone ROE by 120 bps.

Sep 18, 2025, 10:33 AM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for RADIAN GROUP.

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