Mortgage Guarantee Insurance Corporation (MGIC) has turned to the capital markets to increase its reinsurance capacity. The MGIC is looking at ways of raising up to $US1 billion ($A1.27 billion) in new capital, which it will use for a range of purposes, including mortgage guarantees. MGIC's parent company, MGIC Investment Corporation, underwrote approximately $500m worth of premium for H1 2018.
Mortgage Guarantee Insurance Corporation (MGIC) has turned to the capital markets to increase its reinsurance capacity. The firm has issued its first insurance-linked security, raising $318.6m through the transaction. MGIC's parent company, MGIC Investment Corporation, underwrote approximately $500m worth of premium for H1 2018.