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Article: The PMI Group, Inc. Completes Acquisition of R&SA's UK Lenders' Mortgage Insurance Business.
- Article from:
- Business Wire
- Article date:
- April 5, 2004
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Business Editors
WALNUT CREEK, Calif.--(BUSINESS WIRE)--April 5, 2004
The PMI Group, Inc. (NYSE:PMI) announced today that its wholly owned subsidiary, PMI Mortgage Insurance Company Limited (PMI Europe), has completed the acquisition of the UK Lenders' Mortgage Indemnity (LMI) business of Royal & Sun Alliance Insurance Group plc (R&SA).
PMI Europe's acquisition of R&SA's LMI business aligns with the Company's strategic plan to establish itself as a global provider of credit enhancement products. This acquisition better positions PMI Europe to take advantage of projected European mortgage insurance growth.
The LMI portfolio consists of ...