Bloomberg News

Old Republic Says Regulator Approves 60% Cash Payout on Claims

December 03, 2012

Old Republic International Corp. (ORI:US), the insurer that stopped backing new home loans, said its regulator in North Carolina approved a plan to allow for cash payment of 60 percent of settled mortgage-guaranty claims.

The remainder will be covered through a deferred payment obligation, the Chicago-based company said today in a statement distributed by PR Newswire.

To contact the reporter on this story: Noah Buhayar in New York at nbuhayar@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net


Later, Baby
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Companies Mentioned

  • ORI
    (Old Republic International Corp)
    • $16.53 USD
    • 0.09
    • 0.54%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus