Mortgage insurers find recovery slow and hard
Table 1: Financial guarantee/mortgage insurance sector financial performance, $m Company Net earned premium Revenue Net result Shareholders’ funds 2009 2010 2009 2010 2009 2010 2009 2010 Ambac 797.4 546.0 3,900.4 434.1 (14.6) (753.1) (2,287.8) (2,008.5) Assured Guaranty 930.4 1,186.7 917.1 1,401.3 96.0 548.9 3,520.1 3,798.8 Genworth 6,019.0 5,854.0 9,069.0 10,089.0 (460.0) 142.0 13,350.0 14,971.0 MBIA 746.3 594.2 2,954.0 893.8 623.2 52.5 2,590.1 2,832.1 MGIC 1,302.3 1,168.8 1,708.5 1,520.5 (1,322.3) (363.7) 1,302.6 1,669.1 Old Republic 3,111.5 3,225.5 3,803.6 4,102.7 (99.1) 30.1 3,891.4 4,121.4 PMI 716.8 590.6 911.9 654.4 (659.3) (773.0) 727.1 415.3 Radian 825.9 825.7 1,313.4 417.5 (147.9) (1,805.9) 2,005.0 859.8 RAM Holdings* 23.4 11.5 70.7 45.9 20.3 25.3 75.8 111.3 *first nine months only