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MGIC Investment Corp. Message Board

  • newport201066 newport201066 Jan 29, 2013 4:39 PM Flag

    Confidence Vote: OLD REPUBLIC REPORTS 6.7% PASSIVE STAKE IN MGIC INVESTMENT

    BN 16:37 Jan 29
    OLD REPUBLIC REPORTS 6.7% PASSIVE STAKE IN MGIC INVESTMENT

    Sentiment: Strong Buy

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    • Talks cheap, where's the link?????

      • 2 Replies to silentcinder
      • Here is the link and text:
        http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0000074260-13-000007%2Etxt&FilePath=%5C2013%5C01%5C29%5C&CoName=MGIC+INVESTMENT+CORP&FormType=SC+13G&RcvdDate=1%2F29%2F2013&pdf=

        SECURITIES AND EXCHANGE COMMISSION
        WASHINGTON, DC 20549



        SCHEDULE 13G

        (Rule 13d-102)

        INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
        TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED
        PURSUANT TO RULE 13d-2

        (Amendment No. 6)


        MGIC INVESTMENT CORPORATION
        (Name of Issuer)


        Common Stock
        (Title of Class of Securities)


        552848-10-3
        (CUSIP Number)


        January 29, 2013
        (Date of Event Which Requires Filing of this Statement)

        Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

        x Rule 13d-1(b)

        o Rule 13d-1(c)

        o Rule 13d-1(d)






        CUSIP No. 552848-10-3
        13G
        Page 1 of 5 Pages

        1.

        NAMES OF REPORTING PERSONS: Old Republic International Corporation
        I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY): 36-2678171
        2.

        CHECK THE APPROPRIATE BOX IF A NUMBER OF A GROUP: ( a) o
        (See Instructions) Not Applicable (b) o
        3.
        SEC USE ONLY

        4.

        CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
        NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
        5.
        SOLE VOTING POWER: 0

        6.
        SHARES VOTING POWER: 13,529,537

        7.
        SOLE DISPOSITIVE POWER: 0

        8.
        SHARES DISPOSITIVE POWER: 13,529,537

        9.

        AGGREGATE AMOUNT BENEFICIALY OWNED BY EACH REPORTING PERSON:
        13,529,537
        10.

        CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES:
        (See Instructions) o
        11.

        PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9: 6.7 %
        12.

        TYPE OF REPORTING PERSON (See Instructions): HC




        Item 1(a). Name of Issuer:

        MGIC Investment Corporation

        Item 1(b). Address of Issuer’s Principal Executive Offices:

        250 East Kilbourn, Milwaukee, WI 53202

        -1-





        Item 2(a). Name of Person Filing:

        Old Republic International Corporation

        Item 2(b). Address of Principal Business Office or, if note, Residence:

        307 North Michigan Avenue, Chicago, IL 60601

        Item 2(c). Citizenship:

        Delaware

        Item 2(d). Title of Class of Securities:

        Common Stock

        Item 2(e). CUSIP Number:

        552848-10-3

        Item 3.
        If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

        (a)
        o
        Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o).
        (b)
        o
        Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).
        (c)
        o
        Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c).
        (d)
        o
        Insurance company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
        (e)
        o
        An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E).
        (f)
        o
        An employee benefit plan or endowment fund in accordance with § 240 13d-1(b)(1)(ii)(F).
        (g)
        x
        A parent holding company or control person in accordance with § 240-13d-1(b)(1)(ii)(G).
        (h)
        o
        A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813).
        (i)
        o
        A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act (15 U.S.C. 80a-3).
        (j)
        o
        Group, in accordance with § 240.13d-1(b)(1)(ii)(J).

        Item 4.
        Ownership.

        Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

        -2-





        (a) Amount beneficially owned:

        13,529,537

        (b) Percent of class:

        6.7%

        (c) Number of shares as to which such person has:

        (i) Sole power to vote or direct the vote:

        0

        (ii) Shares power to vote or to direct the vote:

        13,529,537

        (iii) Sole power to dispose or to direct the disposition of:

        0

        (iv) Shared power to dispose or to direct the disposition of:

        13,529,537

        Item 5. Ownership of Five Percent or Less of a Class.

        Not applicable.

        Item 6. Ownership of More than Five Percent on Behalf of Another Person.


        Old Republic International Corporation is the beneficial owner of 13,505,537 shares of the issuer’s common stock on behalf of other persons known to have one or more of the following:

        ·
        the right to receive dividends from such securities;
        ·
        the power to direct the receipt of dividends from such securities;
        ·
        the right to receive the proceeds from the sale of such securities;
        ·
        the right to direct the receipt of proceeds from the sale of such securities.

        No such person is known to have an interest in more than 5% of the class of securities reported herein unless such person is identified below.

        None

        -3-





        Item 7.
        Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.


        This notice is filed on behalf of Old Republic International Corporation and the following of its wholly owned subsidiaries:



        Great West Casualty Company
        IC
        Old Republic General Insurance Corporation
        IC
        Bituminous Casualty Corporation
        IC
        Bituminous Fire and Marine Insurance Company
        IC
        Old Republic National Title Insurance Company
        IC
        Old Republic Union Insurance Company
        IC
        Old Republic Surety Company
        IC
        Inter West Assurance, Ltd.
        IC
        Old Republic Security Assurance Company
        IC
        Mississippi Valley Title Insurance Company
        IC
        Old Republic Life Insurance Company
        IC
        Old Republic Home Protection Company IC
        Republic Credit Indemnity Company IC
        American Guaranty Title Insurance Company IC
        RMIC Corporation
        CO
        Old Republic Financial Investors, Inc. CO
        American Business & Mercantile Insurance Mutural Company*
        IC

        * Under common management control of Old Republic Interantional Corporation's wholly owned subsidiaries.


        Item 8.
        Identification and Classification of Members of the Group.


        Not applicable.

        Item 9.
        Notice of Dissolution of Group.


        Not applicable.

        Item 10.
        Certifications.


        By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

        -4-






        SIGNATURE

        After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.



        January 29, 2013


        /s/ William J. Dasso

        William J. Dasso

        Assistant Secretary and Counsel








        -5-

      • I second that...where the link at?!

        Sentiment: Strong Buy

    • Isn't Old Republic already in the mortgage insurance business? Do you think they might be thinking about buying MGIC?

    • Full year and fourth quarter 2012 operating results benefited from substantial improvements in title insurance and much reduced losses in the combined mortgage guaranty ("MI") and consumer credit indemnity ("CCI") run-off books of business. For both the latest quarter and year, however, general insurance profits dropped measurably as an increase in claim costs, mostly for the workers' compensation coverage, hindered profitability in Old Republic's largest segment.

      Taken from their 2012 financial reports

      Sentiment: Hold

    • That's great.

 
MTG
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