PMI Group Inc (PK:PMIR)
Business Focus: Property Insurance
| Sector: Financials | Industry: Property & Casualty Insurance |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 2603 Camino Ramon, Suite 200 SAN RAMON CA 94583 |
| Tel: | N/A |
| Website: | https://ir.pmigrp.net |
| IR: | See website |
| Key People | ||
| L. Stephen Stephen Smith Chairman of the Board | David W. Prager Chief Executive Officer | |
| Business Overview |
| The PMI Group Inc operates through PMI Mortgage Insurance Co. (MIC), which provides residential mortgage insurance coverage in the United States. The Company continues to support customer's ongoing policy servicing needs and loss mitigation programs. It maintains systems, processes, and contact points for policy servicing, loss mitigation, and claims operations for all customers. The Company's International Operations segment consists of European subsidiary (PMI Europe), which is no longer writing new business. PMI Europe offers mortgage insurance and mortgage credit enhancement products tailored primarily to the European mortgage markets. It also wrote mortgage insurance in Canada (PMI Canada). PMI offers flexibility in billing and reporting platforms such as Electronic Data Interchange (EDI), Extensible Markup Language (XML) and spreadsheet. |
| Financial Overview |
| For the six months ended 30 June 2011, PMI Group Inc revenues increased 43% to $379.4M. Net loss before extraordinary items increased 34% to $412.1M. Revenues reflect increase in net premium earned. Higher net loss reflects Interest expense increase of 24% to $27.1M (expense). Basic Earnings per Share excluding Extraordinary Items increased from -$2.81 to -$2.55. |
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