United Guaranty Inc., the mortgage insurance division of the troubled American International Group, lost $1.25 billion in 2008 on its U.S. first lien business, compared to a $239 million loss the year before. In the fourth quarter UGI's domestic first lien business lost $408 million while its second lien division posted an operating profit of $23 million. In 4Q 2007 its first lien business lost $208 million. In the quarter the MI took in $156 million in first lien premiums, a 4% decline from the year ago. According to the Quarterly Data Report, UGI is the nation's fifth largest MI (out of seven) in terms of policies-in-force.
Processing Content
