MGIC Investment Corp. (MTG) announced that its subsidiary, Mortgage Guaranty Insurance Corporation, has signed a reinsurance deal with an affiliate of HCC Insurance Holdings, Inc.
The company noted that the reinsurance deal is effective for up to $50 billion of qualifying new insurance written annually beginning April 1, 2008 and ending on December 31, 2010, subject to two one-year extensions that may be exercised by HCC.
The company stated that the reinsurance deal finalizes another step in its capital plan and is expected to offer claims-paying resources in catastrophic loss environments for insurance written beginning April 1, 2008.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.