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Radian Group’s $1.7 Billion Inigo Deal: Can Specialty Insurance Redefine The Story?

Radian Group reported its first quarter 2026 results following its transformation into a global multiline specialty insurer, notably marked by the February closing of its acquisition of Inigo, a specialty insurance business. This marks the company’s initial quarter reflecting combined results across two distinct insurance segments: its longstanding Mortgage Insurance business and the recently acquired Specialty Insurance segment. The Mortgage Insurance segment demonstrated steady operational performance, with a 3% year-over-year growth in its in-force portfolio to $282 billion and a 42% increase in new insurance written to $13.5 billion. Persistency remained robust at 81.3%, supported by a portfolio where approximately half of policies carry mortgage rates of 5.5% or lower, reducing near-term refinancing risk. Credit trends remained favorable, with cure rates exceeding new defaults, which contributed to a reduced portfolio default rate of 2.51%. Favorable reserve development of $36 million aligned with prior quarters.