As more Americans buy homes, the handful of private insurers that cover their mortgages are attracting heavyweight investors keen to profit from the nascent housing market recovery.
Mortgage insurer MGIC InvestmentCorp posted its first quarterly profit in three years as fewer people defaulted on their home loans, sending its shares up as much as 16 percent in premarket trading.
Mortgage insurer MGIC InvestmentCorp posted its first quarterly profit in three years as fewer people defaulted on their home loans, sending its shares up as much as 16 percent in premarket trading.
Insurer ACE Ltd reported a 24 percent fall in quarterly operating profit, hurt by losses related to superstorm Sandy, and forecast a full-year profit below analysts' estimates.