Sagen MI Canada Inc.

This was formerly named Genworth. It is one of the duopoly, along with government owned Canada Mortgage and Housing Corporation (CMHC), that provides mortgage insurance for home purchasers who cannot pay a 20% deposit. While Genworth only guarantees 90% of the amount, unlike CMHC’s 100%, it competes on speed and flexibility of service and by providing transparency on mortgage insurance pricing.

 


Wealth Builder

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Income Investor

Brookfield Business Partners LP (TSX: BBU.UN), the publicly traded private equity and business services subsidiary of Brookfield Asset Management, made an offer to acquire the 43% of Genworth MIC it did not own. The offer is for $43.50 a share, for a total of $1.6 billion. - Gavin Graham

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Interactive Performance Chart

MIC was first recommended here on August 9, 2010







TSX:MIC OTC:GMICF