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PMI Group Inc. Message Board

  • drugsman12 drugsman12 Mar 27, 2010 5:50 PM Flag

    PMI shut down next quarter

    From the most recent press quarterly report.

    Some gems in the last report.
    "MIC estimates its risk to capital ratio was 22 to 1 and excess minimum policyholder position
    was $64 million at December 31, 2009." Add in analyst average estimates of $270 million for 2010, and risk to capital ratio goes to 35-1 !! No more business will be written and they will have to switch to the new subsidiary which barely has any money. They said like $29 million.

    "Our expectation that, as a result of continued losses, we will need to raise significant additional
    capital and/or achieve significant statutory capital relief in 2010"

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