Latest news (24,642 items)

Royal & Sun mortgage arm headed for run off

Royal & Sun Alliance Lenders Mortgage Insurance will stop writing new business and the business will be put into run off, following the failure of negotiations to sell the business to US insurance group, Radian. read more

Mortgage insurance duopoly emerges

Royal & Sun was the third provider in an already concentrated market for mortgage insurance in Australia. Now that market will be a duopoly, controlled by GE Mortgage Insurance Company and PMI Mortgage Insurance, the first owned by General Electric, the US conglomerate and the second by PMI, a specialised financial risks insurer in the US. read more

Lenders mortgage insurance market shares

This table wraps up the premium revenues for mortgage insurance providers in calendar year 2001 for GEMICO and PMI; and financial year 2002 for the bank-owned captives. read more

RMG profit disappoints

Another of the debt collection agency consolidation plays is straining to show that the business model will work, with RMG reporting a further loss in the December 2002 half. read more

ATM PIN fraud in 15 guesses

Discovering somebody's PIN for an ATM Card may be a much easier task for a motivated bank insider than previous assumptions within banks. So easy, say two University of Cambridge researchers that a crook programmer could generate enough PIN's in the course of one lunch break to steal £2 million. read more

Loan demand rises broadly

Demand for loans rose across all sectors of lending in January 2003, with total credit rising by 1 per cent in the month, compared with a rise of 0.8 per cent in December 2002. The annual rate of growth increased to 11.9 per cent from 11.4 per cent. read more

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