Wayne-based Radian Group has spent years searching for the right moment to reinvent itself. The mortgage insurer turned global specialty insurer is pressing forward following its $1.7 billion acquisition of London-based Inigo Limited, according to Jeff Blumenthal at the Philadelphia Business Journal.
The Inigo deal, which closed Feb. 2, helped push Radian’s Q1 2026 revenue to $466 million, a 58 percent jump from the same period last year. Net income dipped to $124 million from $145 million, but company officials pointed that $49 million in acquisition-related costs and accounting adjustments were the primary culprit.
CEO Rick Thornberry said Radian had discussions with dozens of companies over several years before landing on Inigo. Its global reach and business lines complement Radian’s existing operations.
The deal pushes Radian beyond its traditional U.S. mortgage insurance roots into international specialty insurance markets serving higher-risk individuals and businesses that standard policies typically won’t touch.
Thornberry said the move also smooths out the notoriously cyclical nature of the mortgage insurance business, strengthening the growth prospects from its base in Wayne.
“The total addressable market is much larger, and I think over the long term that has the opportunity to provide greater growth opportunities just as a business headquartered in Philadelphia,” he said.
The transformation has not come without turbulence.
Shortly after the Inigo deal closed, Radian announced that President and CFO Sumita Pandit left the company in what was described as an involuntary termination. Four executives were elevated to divide her responsibilities, signaling a reshaping of the company’s leadership structure.
Radian is also winding down its mortgage conduit business after failing to find a buyer, a move that resulted in roughly 50 layoffs, about 4 percent of its 1,150-person workforce.
For the full picture of how Radian Group is rewriting its future, read Jeff Blumenthal’s complete article at the Philadelphia Business Journal.
______
