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PMI Australia?s Q2 results dip

Staff Reporter 1 minute read

PMI Australia reported a net income of $24 million for the second quarter of 2008 on Friday.

The result was significantly better than its parent’s (PMI Group) quarterly net loss of US$246.3 million ($278 million), however it was $0.4 million down from the same quarter in 2007.

PMI Australia said it was a solid result taking into account higher losses and loss adjustment expenses of $12.6 million.

The result brings the mortgage insurer’s half yearly net income to $54.5 million.

Published: 11-08-08

PMI Australia?s Q2 results dip
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