Companies that sell private mortgage insurance in Missouri suffered their largest losses last year in three decades of record-keeping.
The state insurance department says mortgage guaranty insurers had net losses in 2008 of $173 million — an amount equal to 150 percent of the premiums earned for the year. Those were the largest losses in department records dating back 30 years.
Last year also marked the first time since 1983 that overall levels of contingency reserves for the mortgage guaranty industry were drawn down to cover losses.
Copyright 2026 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Topics Carriers Profit Loss Missouri
Was this article valuable?
Here are more articles you may enjoy.
US P/C Rebounds to Post Q1 Underwriting Gain; Net Income Doubles 
North Carolina Becomes First State to Pass Outright Ban on Litigation Financing 
DeSantis Signs Citizens Commercial Clearinghouse Bill That’s Been Called ‘Unneeded’ 
Virginia’s New Gun Laws Challenged by Some Local Prosecutors and Lawsuits 
