Radian Group Inc. operates primarily as a credit enhancement company, with its core business focused on providing private mortgage insurance (PMI) on residential first-lien mortgage loans in the United States. By protecting lenders against borrower defaults, Radian enables homebuyers to purchase homes with down payments of less than 20% and facilitates the secondary market sale of these mortgages to government-sponsored enterprises (GSEs) and other investors. Historically, the company's revenue has been overwhelmingly driven by its Mortgage Insurance segment, which accounted for nearly all of its $1.29 billion in total revenues in 2024. This segment generates income through net premiums earned and investment income from its portfolio. In addition to its core PMI business, Radian has historically offered real estate services, title insurance, and mortgage conduit services, though it announced plans to divest these ancillary businesses by Q3 2026. In a major strategic shift, Radian completed the $1.7 billion acquisition of Inigo Limited in February 2026, a specialty insurance and reinsurance group operating through Lloyd's of London. This acquisition effectively doubled the company's revenue base and significantly diversified its operations, transforming Radian from a pure-play U.S. mortgage insurer into a global multi-line specialty insurer.
