Insurance News: Buffett, American International Group, Inc. (AIG) & MGIC Investment Corp. (MTG)

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Asian Pay Television IPO Draws Soros, Prudential (WSJ)
Financier George Soros and Prudential Public Limited Company (ADR) (NYSE:PUK)‘s funds arm are among the nine investors in the latest Southeast Asian initial public offering to attract foreign interest: the up to 1.4 billion Singapore dollar (US$1.1 billion) listing of Taiwanese pay-television operator Asian Pay Television Trust. Asian Pay Television Trust is the investment vehicle of Taiwan Broadband Communications, which is owned by two funds managed by Australia’s Macquarie Group Ltd. MQG.AU +10.88% —the Macquarie International Infrastructure Fund, or MIIF, and Macquarie Korea Opportunities Fund. The cornerstone investors are Quantum Vehicle, the investing vehicle of the Soros family; Prudential Public Limited Company (ADR) (NYSE:PUK)’s funds through its unit Eastpring Investments (Singapore) Ltd…

Prudential plc Rating Reiterated by Bank of America (PRU) (Zolmax)
Prudential Public Limited Company (ADR) (NYSE:PUK)‘s stock had its “buy” rating reaffirmed by research analysts at Bank of America Corp (NYSE:BAC) in a report released on Thursday, Analyst Ratings Network reports. Shares of Prudential Public Limited Company (ADR) (NYSE:PUK) traded up 0.99% during mid-day trading on Thursday, hitting GBX 1118.00. Prudential plc has a one year low of GBX 654.50 and a one year high of GBX 1180.4921. The stock’s 50-day moving average is currently GBX 826.4. The company’s market cap is £28.501 billion.

Radian loss widens on tough comparison (MarketWatch)
Radian Group Inc (NYSE:RDN) +2.78% widened its fiscal first-quarter loss even as earned net premiums climbed, as the mortgage insurer came up against a year-earlier period helped by investment gains. Companies such as Radian Group Inc (NYSE:RDN) Guaranty typically insure mortgages when a borrower makes a down payment of less than 20%. Mortgage insurers pay lenders a portion of their losses if homeowners default on their loans. While mortgage-insurance policies sold in recent years have so far proved to be highly profitable, Radian Group Inc (NYSE:RDN) and some other players remain saddled with money-losing policies sold in the years before the housing bubble popped.




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