New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 25, 2013
07:18 EDTMTGMGIC Investment downgraded to Underperform from Neutral at Macquarie
Macquarie downgraded MGIC Investment due to valuation, book value pressure, and regulatory uncertainty. Price target is $1.
News For MTG From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
April 17, 2015
17:08 EDTMTGMGIC Investment expects MGIC to be in compliance with PMIERs
We expect that Mortgage Guaranty Insurance Company, which is the principal subsidiary of MGIC Investment Corporation, will be in compliance with the PMIERs, including their revised financial requirements, when they become effective. We estimate that as of March 31, MGIC's Available Assets are approximately $5.12B and its Minimum Required Assets are approximately $5.35B, resulting in a shortfall of approximately $230M. Our shortfall estimates are based on our interpretation of the PMIERS and assume that the risk in force and assets of MGIC's MIC subsidiary will be repatriated to MGIC. Our shortfall estimates do not include any benefits from MGIC's existing reinsurance transaction or the anticipated restructure of the existing reinsurance transaction, capital contributions from MTG to MGIC, or the transfer of other assets from regulated insurance affiliates of MGIC that subject to regulatory approval could increase the Available Assets of MGIC. As we have previously disclosed, we would not have received full credit under the PMIERs for our existing reinsurance transaction. Therefore, we have reached agreement to restructure that transaction in a way that we believe will result in MGIC receiving the maximum benefit under the PMIERs. The effectiveness of this restructured transaction will be subject to approval by the Wisconsin Office of the Commissioner of Insurance and the GSEs. In addition, in April, we received regulatory approval to transfer $45M of assets from regulated insurance affiliates of MGIC that will increase the Available Assets of MGIC. Furthermore, we believe a portion of MTG's $491M of cash and investments at December 31, 2014, may be available for future contribution to MGIC.
April 6, 2015
10:09 EDTMTGHigh option volume stocks
High option volume stocks: DBA DLPH OUTR PNK TROW SLCA MTB EMR MTG IVZ

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use