May 1 (Reuters) – Radian Group Inc posted a second straight quarterly loss, hurt by the change in value of derivatives and other financial instruments, but the mortgage insurer said its risk ratios improved in the quarter.
Radian and its rivals MGIC Investment Corp and Genworth Inc insure home loans when the downpayments are less than 20 percent.
These insurers underwrote millions of mortgages , at low premiums, in the heady days of the housing boom. But the wave of foreclosures unleashed by the crisis, swamped their capital levels and raised their risk ratios.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
