PMI Mortgage Insurance Sells Entire Investment in RAM Holdings

Published December 24, 2009, 2:00 p.m. EST

1 Min Read

PMI Mortgage Insurance Co., Walnut Creek, Calif., sold its entire investment in RAM Holdings Ltd. (RAM Holdings Ltd. is the holding company for RAM Reinsurance Co. Ltd.) Terms and conditions of the sale were not disclosed. The company had impaired its investment in RAM Holdings Ltd. in 2008 and reduced the carrying value of the investment to zero. The completion of this sale continues the company's focus on its core U.S. mortgage insurance operations and the proceeds from the sale will add to PMI Mortgage Insurance Co.'s liquidity position.

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