Old Republic International Corp. is not declaring its private mortgage insurance subsidiary dead even after two failed attempts at recapitalizing the business.

The company believes that over the next couple of years, while Republic Mortgage Insurance Co. continues operating in runoff, "some appropriate acceptable external sources of capital can be brought to there and reinvigorate what is still in our opinion a very well-organized and reputable business charter," said ORI chairman and CEO Al Zucaro during the parent company's first-quarter conference call.

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