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Assurant Has $27 Million Charge on Mortgage Insurance Brokers

Jan. 22 (Bloomberg) -- 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 ztracer1@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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