Old Republic Says Mortgage-Unit Supervision Not a Default Event

Jan. 25 (Bloomberg) -- Old Republic International Corp., 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