---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-206774"
form_type: "8-K"
ticker: "RDN"
cik: "0000890926"
company_name: "RADIAN GROUP INC"
filed_at: "2025-09-18T23:59:59+00:00"
generated_at: "2026-05-17T06:19:32.855137+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Radian to acquire Lloyd's insurer Inigo for $1.7B; plans divestiture of mortgage, title & real estate

## Summary
- Acquisition of Inigo for $1.7B (primarily cash) expected to close Q1 2026, subject to UK, Lloyd's and Texas regulatory approvals.
- Funded from Radian's excess capital and liquidity; $600M intercompany note from Radian Guaranty at 6.5% for 10 years.
- Radian to divest all 'All Other' businesses (mortgage conduit, title, real estate services) within one year; held-for-sale and discontinued ops from Q3 2025.
- Inigo management (CEO Richard Watson, CUO Russell Merrett, CFO Stuart Bridges) will continue leading; equity rollover <1% of RDN stock.
- Acquisition expected to be mid-teens accretive to EPS and add ~200 bps to ROE in first full year after closing.

## SEC filing metadata
- accession: 0001193125-25-206774
- form_type: 8-K
- ticker: RDN
- cik: 0000890926
- company_name: RADIAN GROUP INC
- filed_at: 2025-09-18T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 5.03, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/890926/000119312525206774/0001193125-25-206774-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/890926/000119312525206774/d945088d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-206774
- JSON: https://secwatch.observer/filing/0001193125-25-206774.json
- Plain text: https://secwatch.observer/filing/0001193125-25-206774.txt

## Key facts
- Governance Changes
  RADIAN GROUP INC: Added a forum selection bylaw designating Delaware state and federal courts as exclusive forums for specified internal and securities law claims (effective 2025-09-17).
  - Change: bylaw amendment
  - Effective: 2025-09-17
  source text: On September 17, 2025, the board of directors of the Company (the “ Board ”) approved an amendment to the Company’s Fourth Amended and Restated By-laws (the “ Amended and Restated By-laws ”), effective September 17, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/890926/000119312525206774/0001193125-25-206774-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.