Nmi holdings, inc. enters into $154 million excess-of-loss reinsurance agreement

Emeryville, calif., aug. 30, 2022 (globe newswire) -- nmi holdings, inc. (nasdaq: nmih) today announced that national mortgage insurance corporation (national mi), its wholly-owned insurance subsidiary, has entered into a new excess-of-loss (xol) reinsurance agreement with a broad panel of highly rated reinsurers, subject to customary conditions. the xol agreement has a treaty inception date of july 1, 2022 and provides aggregate loss protection on policies originated primarily between april 1, 2022 and june 30, 2022, from a 2.25% cumulative claim attachment threshold up to a 6.65% maximum aggregate detachment level. national mi expects to receive full pmiers credit for the transaction, subject to gse approval.
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