The PMI Group Inc., Walnut Creek, Calif., has reported a net loss of $86.8 million ($1.04 per share) in the third quarter, three quarters of which stemmed from its U.S. mortgage insurance operations.A year earlier, PMI reported net income of $104.2 million ($1.16 per share). The company said the net loss in its U.S. mortgage insurance operations totaled $65.2 million in the third quarter. PMI's U.S. MI operations added $253.6 million to the reserve for losses and loss adjustment expenses and paid $92.6 million in claims, the company reported. However, PMI Australia recorded net income of $19.7 million that stemmed from higher premiums earned and net investment income, the company said. PMI can be found online at http://www.pmigroup.com.
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