Losses rise at MGIC
SIGNS that the mortgage crisis in the US is far from over have been re-emerging this year, with troubled US mortgage insurer MGIC Investment Corp closing the first nine months of the year with a net loss of $350.6m, nearly doubling the year-earlier loss of $177.1m, as earned premiums fell 3.4% to $848.1m and incurred losses climbed 6.5% to $1.23bn.