WALNUT CREEK, Calif., Dec. 24 /PRNewswire-FirstCall/ -- PMI Mortgage Insurance Co. today announced the sale of its entire investment in RAM Holdings Ltd. (RAM Holdings Ltd. is the holding company for RAM Reinsurance Company Ltd.). Terms and conditions of the sale were not disclosed. The Company had impaired its investment in RAM Holding Ltd. in 2008 and reduced the carrying value of the investment to zero. The completion of this sale continues the Company's focus on its core U.S. mortgage insurance operations and the proceeds from the sale will add to PMI Mortgage Insurance Co.'s liquidity position.
About PMI Mortgage Insurance Co.
The PMI Mortgage Insurance Co. , is headquartered in Walnut Creek, CA and provides credit enhancement solutions that expand homeownership while supporting our customers and the communities they serve. Through its wholly and partially owned subsidiaries, PMI offers residential mortgage insurance and credit enhancement products. For more information: http://www.pmi-us.com/.
PMI Mortgage Insurance Co.
CONTACT: Investors, Bill Horning of PMI Mortgage Insurance Co.,
+1-925-658-6193, or Media, Tom Taggart of PMI Mortgage Insurance Co.,
+1-925-658-6511
