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Ontario Teachers finalize Canadian AIG sale
By ILSTV Staff on May 04, 2010 in Sales, Mergers & Acquisitions
An investor group, led by the Ontario Teachers’ Pension Plan and including National Mortgage Guaranty Holdings, has completed the acquisition of AIG United Guaranty Mortgage Insurance Company Canada from American International Group (AIG). The terms of the transaction were not disclosed.
The mortgage insurance company has been rebranded to Canada Guaranty Mortgage Insurance Company and will continue to serve the Canadian mortgage insurance market from its headquarters in Toronto. Canada Guaranty Mortgage Insurance Company is the second largest private mortgage insurance provider in Canada with assets of $270 million and total equity of $118 million as of December 31, 2009.
