Compelo Insurance is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

PMI Group Q4 net loss narrows

A net loss of $178.84m for Q4 08 compared to a net loss of $1.01 billion Q4 07 is reported

The PMI Group, a mortgage insurer, has reported a net loss of $178.84m, or $2.19 per diluted share, for the fourth quarter ended December 31, 2008, compared to a net loss of $1.01 billion, or $12.51 per diluted share, for the fourth quarter ended December 31, 2007.

The group reported that its loss from continuing operations for the fourth quarter of 2008 was $181m, or $2.22 per diluted share, compared to a loss from continuing operations of $1.03 billion, or $12.76 per diluted share, for the same quarter of 2007.

Consolidated net premiums written for the fourth quarter of 2008 totaled $177.5m, compared with $203.1m for the fourth quarter of 2007. For the fourth quarter of 2008, consolidated premiums earned were $184.1m, compared with $210m for the same quarter of 2007.

For the full year ended December 31, 2008, the company reported a net loss of $928.51m, or $11.40 per diluted share, compared to a net loss of $915.33m, or $10.81 per diluted share, for the full year ended December 31, 2007.

Loss from continuing operations for the full year of 2008 was $887.2m, or $10.90 per diluted share, compared to loss from continuing operations of $1.01 billion, or $11.92 per diluted share, for the year 2007.

For the year 2008, consolidated net premiums written were $768.9m, compared with $813.9m for the year 2007. Consolidated premiums earned for the full year were $786.2m, compared with $815.4m for 2007.