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Old Republic International Corp.s decision last week to spin-off its troubled mortgage-insurance business received positive reviews from analysts and rating agencies.

Moodys Investors Service gave a thumbs up to mortgage insurer Radian Guarantys plan to enter into a quota-share-reinsurance agreement, but the ratings agency still downgraded Radian Groups senior-debt rating due to constrained liquidity.

The mortgage-insurance sector is expected to continue to report operating losses well into 2013, as losses on legacy books of business will likely outweigh the profitability generated from more recent business written since 2008, according to Standard & Poors.

The mortgage-insurance sector is expected to continue to report operating losses well into 2013, as losses on legacy books of business will likely outweigh the profitability generated from more recent business written since 2008, according to Standard & Poors.

A culture clash between Willis Group Holdings and Hilb, Rogal & Hobbs (HRH), acquired in 2008, led to a significant amount of business lost in North America, contributing to a 57 percent drop in net income for Willis 2011 fourth quarter.

Chartis says it has condensed its claims, operations and systems under one management team in an effort to get closer to fulfilling a combined ratio promise.

Fitch Ratings has placed Old Republic International Corporation's (ORI) A insurer financial strength rating and BBB issuer default rating on Rating Watch Negative due to continued troubles at its mortgage-insurance subsidiary.

The PMI Group has filed for Chapter 11 bankruptcy in order to assess its strategic and other options for preserving stakeholder value after the Arizona Department of Insurances seizure of the companys primary regulated subsidiaries last month.