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NMI Holdings to implement reinsurance program


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NMI Holdings to implement reinsurance program

Citingstrong growth, NMI Holdings Inc.Chairman and CEO Brad Shuster announced that the company is implementing areinsurance program as part of its capital planning.

"Wehave received proposals from multiple reinsurers. Based on the feedback we havereceived, we are confident that we will be able to execute a placement atreasonable terms," Shuster said during the company's first-quarterearnings call, according to a transcript.

CFOGlenn Farrell said the company is negotiating a reinsurance program under whichit would cede 25% to 30% of its risk on a quota share basis.

Shusteradded that, assuming the company executes the reinsurance program and that itmaintains an expected level of new insurance written growth through 2017, thecompany believes it is positioned to achieve approximately $1 of pretax incomeper share in 2017.