Mortgage Insurance
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Losses Widen at Triad, as Paid Claims Jump
Nov 11, 2008Mortgage insurer Triad Guaranty Inc. [stock TGIC][/stock], who put its portfolio into run-off in July after ratings downgrades, said Monday evening that it lost $160.1 million during the third quarter, or $10.69 per share. The loss came amid rising delinquencies and increasing paid claims on mortgages the company had insured; net paid claims rose sharply to $59.4 million in Q3, Triad said, versus $28.5 million one year earlier.
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