Reinsurance

Through a strategic investment in RAM Re, a publicly traded reinsurance company based in Bermuda, PMI participates in the reinsurance of municipal, structured finance, and international debt obligations underwritten by primary financial guaranty companies. RAM Re typically reinsures full and timely scheduled principal and interest payment on debt securities. As the only dedicated independent AAA reinsurer in the industry, RAM Re maintains a balanced risk management strategy focused on its core business of providing financial guaranty reinsurance through treaty and facultative arrangements.

Through PMI Asia, PMI provides mortgage reinsurance to the Hong Kong Mortgage Corporation Limited (HKMC), a public sector entity created to add liquidity to the Hong Kong residential mortgage market.

Through PMI Guaranty, PMI participates in low risk quota share reinsurance of public finance debt.