Radian Group (NYSE:RDN) announced Monday that it has completed its acquisition of Inigo, a premier Lloyd’s of London specialty insurance syndicate.
The $1.67 billion all-cash transaction marks a historic pivot for the Pennsylvania-based company, which is transitioning from a leading U.S. mortgage insurer into a diversified, multi-line global player.
The acquisition, first announced in September 2025, values Inigo at approximately 1.4 times its year-end 2025 tangible equity of $1.16 billion.
Radian funded the deal using its own liquidity and excess capital from its primary subsidiary, Radian Guaranty.
By bringing Inigo’s high-capacity specialty lines—including reinsurance, property, and D&O—under its umbrella, Radian expects to double its annual revenue and significantly reduce its sensitivity to U.S. housing cycles.
Inigo will continue to operate as a standalone business unit in London, retaining its brand, culture, and the leadership team led by CEO Richard Watson, a 33-year veteran of Hiscox.
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