S&P assigns Enact Re A- rating as strong performance continues

Enact Re, a subsidiary of Enact Mortgage Insurance Company (EMICO), has received an A- rating from S&P Global Ratings, with a stable outlook.

This is the first rating assigned to Enact Re by S&P and the second rating since its launch, which underscores continued strong performance, Enact stated.

Rohit Gupta, Enact’s President and Chief Executive Officer, said: “We are pleased to have Enact Re Ltd. receive its first credit rating from S&P. This rating is a testament to our continued strong capital position and disciplined execution.

“Looking ahead, we’re committed to maintaining robust financial health and serving our stakeholders while delivering significant value for our shareholders.”

The Bermuda-based reinsurer launched in 2024 by US private mortgage insurance provider, Enact. It was established to operate primarily as a mortgage reinsurer but it was stated that it could eventually broaden its reach to write third-party business.

Following its launch, credit rating agency AM Best has assigned the reinsurer a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Ratings of “a-” (Excellent).

The ratings reflect its balance sheet strength, which AM Best assessed as very strong, as well as its adequate operating performance, limited business profile, and appropriate enterprise risk management (ERM).

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