Company Overview of United Guaranty Corporation
United Guaranty Corporation offers mortgage insurance products that provide mortgage lenders and investors protection against default on a portion of the unpaid principal balance of a covered mortgage in the United States. It also provides first-lien mortgage insurance in Hong Kong. The company was founded in 1963 and is headquarters in Greensboro, North Carolina. United Guaranty Corporation operates as a subsidiary of American International Group, Inc.
230 North Elm Street
Greensboro, NC 27401
Founded in 1963
Key Executives for United Guaranty Corporation
Chief Executive Officer, President and Director
Chief Financial Officer and Executive Vice President
Chief Operating Officer and Executive Vice President
Chief Executive Officer of Canada Guaranty Mortgage Insurance Company and President of Canada Guaranty Mortgage Insurance Company
President of Domestic Consumer Group and Group Executive of Domestic Consumer Group
Compensation as of Fiscal Year 2016.
United Guaranty Corporation Key Developments
AIG Files SEC Statement On Possible Sale Of Mortgage Insurer
Mar 31 16
American International Group, Inc. (NYSE:AIG) took a step closer to selling its mortgage guaranty business with the latter's filing of a prospectus with the U.S. Securities and Exchange Commission. In the prospectus United Guaranty Corporation said it is seeking to sell itself as soon as practicable. The filing lists the proposed maximum aggregate offering price United Guaranty as $100 million. United Guaranty said in the filing it was formed by AIG as a separate entity on March 3 as a step toward its eventual sale along with its subsidiaries, which had previously been direct subsidiaries of AIG. United Guaranty's possible sale was among several moves outlined by AIG when it unveiled a strategy that includes the divestiture of what it considers legacy businesses. "There are no sacred cows," AIG Chief Executive Officer Peter Hancock said in a conference call on AIG's strategy at the time. Hancock added AIG is looking to accelerate its streamlining efforts over the next two years, and will consider divesting even some of its biggest business units if it makes sense, but added the group will not do so if the timing isn't right. In a March 31 interview with CNBC, Hancock said he would hate to sort of jump the gun on a possible sale price for United Guaranty. AIG spokesman Jon Diat said the company has no comment beyond the SEC filing.
UGC Mulls IPO
Jan 26 16
American International Group, Inc. (NYSE:AIxG) said that its board has committed to return at least $25 billion of capital to shareholders over the next two years via buybacks and dividends without compromising the utilization of AIG's deferred tax assets. AIG also said it will pursue an initial public offering of United Guaranty Corporation (UGC) in mid-2016 to sell up to 19.9% of the outstanding shares, subject to regulatory and GSE approval, as a first step towards a full separation.
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