Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg News

PMI Says Investor Ends Talks After Weighing Stake

April 01, 2013

PMI Group Inc. (PPMIQ:US), the mortgage insurer that filed for bankruptcy protection in 2011, said a “well- known private-equity investor” ended talks about taking a minority stake in the reorganized company.

“The potential investor recently terminated such negotiations, and the company expects not to proceed with a transaction,” San Ramon, California-based PMI said today in a regulatory filing.

The insurer said it hasn’t yet decided whether it will pursue other outside investors. PMI didn’t give a reason why the talks, disclosed in December, ended.

A rebound in the housing market is fueling investor interest in mortgage insurance after companies like PMI and Triad Guaranty Inc. (TGIC:US) were hobbled by losses in the real estate slump. NMI Holdings Inc. raised $550 million last year to open a mortgage insurer, and MGIC Investment Corp. (MTG:US) and Radian Group Inc. (RDN:US) have sold common stock and convertible senior notes this year to bolster their units that back home loans.

To contact the reporter on this story: Noah Buhayar in New York at

To contact the editor responsible for this story: Dan Kraut at

blog comments powered by Disqus