Industry NewsMarkets & Economy

Radian group’s losses top $1 billion

Private mortgage insurer raising rates, standards
Published on Feb 15, 2008

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by CareyBot

Private mortgage insurer Radian Group Inc. reported a $618 million fourth quarter loss today, bringing losses for the year to $1.2 billion.

Net premiums written for the quarter were up 11.1 percent from a year ago, to $309.6 million, but were more than offset by a $458.5 million write-down in the value of derivative investments and a $687.8 million boost in mortgage insurance loss reserves.

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