Assurant Has $27 Million Charge on Mortgage Insurance Brokers

Assurant Inc., the insurer of foreclosed homes, said it recorded a $27 million pretax charge in the fourth quarter tied to the 2007 acquisitions of two mortgage insurance brokers in the U.K.

“Persistency rates of the acquired business declined significantly following actions by an independent underwriter of the business, resulting in the impairment charge,” New York- based Assurant said today in a regulatory filing.

To contact the reporter on this story: Zachary Tracer in New York at

To contact the editor responsible for this story: Dan Kraut at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.