Triad Plans to Enter Canadian MI Market

Published July 17, 2006, 2:00 p.m. EDT

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Updated July 17, 2006, 2:00 p.m. EDT

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Triad Guaranty Inc., Winston-Salem, N.C., has announced its intention to enter the Canadian mortgage insurance market.The announcement that Triad is filing a formal notice of intention to submit an application to incorporate a Canadian subsidiary is the first formal step prior to submitting an application to the Office of the Superintendent of Financial Institutions in Canada. If approved, the Canadian subsidiary would be a monoline provider of mortgage guaranty insurance, and would be named Triad Guaranty Insurance Corp. Canada. Triad said Canada is the second-largest mortgage guaranty insurance market in the world. The company can be found online at http://www.triadguaranty.com.

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