PMI Group Inc.'s sale of common stock and senior notes has contributed enough proceeds to bring its primary mortgage insurance underwriter back into compliance with the risk-to-capital ratio and minimum policyholders' position requirements some states have.
The transactions netted $706 million, of which $586 million went to PMI Mortgage Insurance Co. This had the effect of reducing the unit's risk-to-capital ratio on a pro forma basis at March 31 to 13.4:1.
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