TORONTO, May 5 /CNW/ - Genworth MI Canada Inc. announced today that it will be opening the market this morning. The company went public in July 2009 and trades on the Toronto Stock Exchange under the stock symbol MIC.
"Becoming a public company has afforded us greater visibility and is providing us with more opportunities to highlight our financial strength and share our growth story," said Brian Hurley, Chairman and Chief Executive Officer of Genworth MI Canada Inc. "Since 1995, we have established strong working relationships within the mortgage finance community. We have an extensive track record of successful mortgage financing product and process innovations that have benefited lenders and homebuyers. We are proud of our accomplishments over the past year and our history of serving the Canadian market for the last 15 years."
Genworth MI Canada Inc. is the leading private mortgage insurance provider in Canada and has been providing mortgage default insurance in Canada since 1995. The Company has built a broad underwriting and distribution platform across the country that provides customer-focused products and support services to the vast majority of Canada's residential mortgage lenders and originators.
About Genworth MI Canada Inc.
Genworth MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian private residential mortgage insurer since 1995. Known as Genworth Financial Canada, "The Homeownership Company," it provides default mortgage insurance to Canadian residential mortgage lenders that enables low down payment borrowers to own a home more affordably and stay in their homes during difficult financial times. Genworth Financial Canada combines technological and service excellence with risk management expertise to deliver innovation to the mortgage marketplace. As of March 31, 2010, Genworth Financial Canada had $5.1 billion in total assets and $2.7 billion in shareholders' equity. Based in Oakville, Ontario, Genworth Financial Canada employs approximately 265 people across Canada.
SOURCE Genworth MI Canada
For further information: For further information: Additional information about Genworth MI Canada Inc. is available at www.genworth.ca