Radian Group

What Radian Group does

Radian Group Inc. (NYSE: RDN) is a global multi-line specialty insurer that operates through two core business segments following its $1.67 billion acquisition of Inigo Limited, which closed February 2, 2026. The first segment, Radian Guaranty Inc., has provided private mortgage insurance and related solutions to US mortgage lenders and servicers for nearly 50 years, enabling low-down-payment homeownership by insuring lenders against borrower default. The second segment, Inigo, is a London-based specialty insurance and reinsurance business that underwrites through the Lloyd's of London market for the world's largest commercial and industrial enterprises; Inigo contributed $165 million in net premiums earned during its first two months of operations in Q1 2026.

Radian generates revenue primarily through net premiums earned on its insured mortgage portfolio and specialty insurance book, both subscription/recurring revenue models. The company reports an overall Q1 2026 revenue of $466 million, up 58% year-over-year, with profitability metrics including 14.7% adjusted operating ROE, $35.67 book value per share (up 10% YoY), and 22% growth in adjusted diluted net operating income per share. The company is headquartered in Wayne, Pennsylvania, with a regional headquarters in London (25 Fenchurch Avenue) for Inigo and reports a market capitalization of approximately $4.94 billion.

Radian's go-to-market is enterprise B2B field sales: mortgage insurance is distributed directly to US lenders and servicers via Radian Guaranty, while specialty insurance is distributed globally through Inigo's Lloyd's underwriting presence. The company employs roughly 900 staff and operates with a "proprietary view of risk" combining financial strength analysis with disciplined underwriting. In March 2026, Radian began winding down its Radian Mortgage Capital mortgage conduit business as part of post-acquisition strategic repositioning, and the CEO succession from Rick Thornberry to Mike Weinbach (effective August 13, 2026) is underway.

Name

Radian Group

Legal name

Radian Group Inc.

Website

https://radian.biz

Company type

Public

Founded year

1977

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Radian Group is a global multi-line specialty insurer providing private mortgage insurance through Radian Guaranty to US lenders and servicers, and specialty insurance and reinsurance through Inigo at Lloyd's of London to large commercial and industrial enterprises.

Ownership category

akta.pro rank

Product category

Specialty Insurance

NAICS

Insurance Carriers (5241), Direct Property and Casualty Insurance Carriers (524126), Reinsurance Carriers (524130)

SIC

Insurance Carriers, Nec (6399), Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Pool/Portfolio Mortgage Insurance (Bulk & Flow Coverage) (FSALAJAF)

akta.pro secondary industry

Energy / Power / Renewables Reinsurance (FSAOADAF)

Keywords

• Private mortgage insurance
• Specialty insurance underwriting
• Reinsurance solutions
• Mortgage risk management
• Lender insurance services

Headquarters

HQ city

Wayne

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Mortgage Insurance Premiums: Net premiums earned from private mortgage insurance provided through Radian Guaranty, covering nearly 50 years of mortgage insurance operations. Premiums are earned on insured mortgage portfolios.
2. Specialty Insurance Premiums: Net premiums earned from specialty insurance and reinsurance operations through Inigo Limited, underwriting through Lloyd's of London. Inigo contributed $165 million in net premiums earned in Q1 2026 (two months of operations).

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Radian Group operates two core insurance segments: (1) Radian Guaranty provides private mortgage insurance to U.S. mortgage lenders and servicers, enabling low-down-payment homeownership by protecting lenders against borrower default on residential first mortgages; and (2) Inigo delivers global specialty insurance and reinsurance underwriting through the Lloyd's of London market, serving the world's largest commercial and industrial enterprises with high-capacity risk coverage. Following the February 2026 acquisition of Inigo, Radian transformed from a U.S.-focused mortgage insurer into a global multi-line specialty insurer.

Product overview

Radian Group is a global, multi-line specialty insurer operating two core business segments: (1) Radian Guaranty, a private mortgage insurance subsidiary offering mortgage insurance and related solutions to lenders and servicers, and (2) Inigo, a specialty insurance and reinsurance business operating through Lloyd's of London. The company transformed from a U.S.-focused mortgage insurer into a diversified global specialty insurer following its $1.67 billion acquisition of Inigo in February 2026.

Differentiator

Problem solved

Functional benefit

Brands

• Radian Guaranty: Private mortgage insurance subsidiary offering comprehensive mortgage insurance and related solutions for lenders and servicers
• Inigo

Products and services

• Radian Guaranty Private Mortgage Insurance Private mortgage insurance and related solutions offered through Radian Guaranty Inc. to U.S. mortgage lenders and servicers. Enables low-down-payment homeownership by protecting lenders against borrower default on residential first mortgages, providing risk mitigation, regulatory capital relief, and GSE-eligibility support.
• Inigo Global Specialty Insurance and Reinsurance Global specialty insurance and reinsurance underwriting offered through Inigo Managing Agent Limited (IMAL) at Lloyd's of London. Delivers high-capacity, data-driven underwriting solutions for the world's largest commercial and industrial enterprises with complex risk profiles.

Quantifiable outcome

• 58% revenue growth in Q1 2026 year-over-year
• +4 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Inigo LimitedflagshipStrategic or Co-development Partner · 22 September 2025Radian Group acquired Inigo Limited for $1.67 billion in an all-cash transaction completed February 2, 2026. Inigo operates as a standalone business unit in London underwriting specialty insurance and reinsurance through Lloyd's of London. The acquisition transforms Radian from a US mortgage insurer to a global multi-line specialty insurer, expected to double annual revenue and provide mid-teens EPS accretion.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• MGIC Investment Corporation: MGIC is a direct competitor to Radian Guaranty in the US private mortgage insurance market, serving the same lender and servicer customer base with comparable private mortgage insurance products for low down-payment mortgages.
• Essent Group Ltd. Essent is a direct peer in US private mortgage insurance, providing mortgage insurance and related solutions to lenders and servicers across the same customer segments as Radian Guaranty.
• NMI Holdings, Inc. NMI Holdings is a direct private mortgage insurance peer to Radian Guaranty, underwriting mortgage insurance coverage for US lenders on residential first mortgages with similar customer profiles and GSE-eligible product positioning.
• Beazley plc: Beazley is a Lloyd's of London specialty insurer serving large commercial and industrial clients with high-capacity insurance and reinsurance, directly comparable to Inigo's specialty underwriting platform now part of Radian.
• Hiscox Ltd. Hiscox is a Lloyd's-based global specialty insurer underwriting for large commercial clients, comparable to Inigo in business model, customer base (commercial and industrial enterprises), and high-capacity specialty distribution.
• Lancashire Holdings Limited: Lancashire is a global specialty insurer and reinsurer focused on commercial and industrial enterprise risks, comparable to Inigo's specialty insurance offering through Lloyd's and other channels.

Broad incumbents

• Arch Capital Group Ltd. Arch is a broad incumbent that competes both in US mortgage insurance (through Arch MI) and in global specialty insurance and reinsurance, overlapping with both Radian Guaranty and the newly acquired Inigo platform.
• Genworth Financial, Inc. Genworth's Enact Holdings subsidiary competes directly with Radian Guaranty in US private mortgage insurance, making it a comparable peer on the MI side while operating a broader financial services portfolio.
• Everest Group, Ltd. Everest Re is a broad incumbent in global specialty insurance and reinsurance, serving large commercial clients across multiple specialty lines comparable to the diversified book Inigo brings to Radian.
• RenaissanceRe Holdings Ltd. RenaissanceRe is a broad specialty and reinsurance incumbent with global reach into specialty lines for large commercial enterprises, comparable to the Inigo platform's specialty insurance and reinsurance profile.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/radian_US
• Facebookfacebook.com/RadianHQ

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries3 records

Funding overview

Funding rounds5 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A5 records

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Radian Group