Old Republic Says Mortgage-Unit Supervision Not a Default Event
By Andrea Ludtke -
2012-01-25T21:22:57Z
Old Republic International Corp. (ORI), the Chicago-based insurer, said increased oversight of its Republic Mortgage Insurance Co. unit by a North Carolina regulator isn’t considered a default.
“Supervision, unlike receivership, does not constitute an event of default by RMIC or its parent holding company with regard to any of their respective debt obligations,” Old Republic said today in a regulatory filing.
To contact the reporter on this story: Andrea Ludtke in New York at aludtke@bloomberg.net
To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net
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