Genworth Financial Inc. on Wednesday said it was reorganizing itself to separate its mortgage insurance business from the rest of the company, reducing the risk of default on its bonds and sending its shares up 9 percent. Genworth’s shareholders — …
California Insurance Commissioner Dave Jones announced a 30.5 percent rate reduction, for “lender-placed” homeowners’ insurance coverage offered by American Security Insurance Co., an Assurant Inc.-owned company. The reduction will result in an estimated $42.7 million savings to homeowners, with an …
The government’s consumer finance watchdog is investigating mortgage insurance deals between banks and the insurers American International Group Inc., MGIC Investment Corp. and Genworth Financial Inc. The three companies said in public filings last week that they had received subpoenas …
Mortgage insurer MGIC Investment Corp. has sued mortgage financier Freddie Mac and the Federal Housing Finance Administration to settle a dispute over coverage limits on certain insurance policies. MGIC said on Thursday it filed the suit in federal court in …
Arizona-based mortgage insurer The PMI Group Inc. (NYSE: PMI) has filed for voluntary relief under chapter 11 of the United States Bankruptcy Code in the U. S. Bankruptcy Court for the District of Delaware. The filing is a result of …
Bailed-out insurer American International Group plans to hold on to its mortgage insurance business even as the rest of that industry struggles with rising claims, AIG’s chief executive said Friday. Mortgage insurers have been struggling, with losses mounting and capital …
Itasca, Ill.-based international insurance brokerage and risk management services firm, Arthur J. Gallagher & Co., announced it has acquired Mortgage Insurance Agency Ltd. in Crystal Lake, Ill. Founded in 1993, Mortgage Insurance Agency is a retail insurance broker providing commercial …
