Radian Group (RDN) Unit Gets Approval for Release of $55M in Contingency Reserves

Radian Group Inc. (NYSE: RDN) that its financial guaranty insurance subsidiary, Radian Asset Assurance Inc., received regulatory approval yesterday to release $55 million of contingency reserves, which will benefit Radian Guaranty’s statutory capital position. This reserve release was based on a reduction in Radian Asset’s net par outstanding, resulting from the maturing of exposures and other terminations of coverage. The company had anticipated the reserve release and included the impact in its risk-to-capital projections for Radian Guaranty.

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