ABOUT PMI ASIA
PMI Mortgage Insurance Asia Limited (PMI Asia), a subsidiary of The PMI Group, Inc. (NYSE:PMI), serves the needs of residential mortgage lenders and investors in selected Asian markets. PMI Asia offers a variety of primary mortgage insurance, mortgage reinsurance, and structured portfolio products, each tailored to the needs of the particular market. These products protect lenders and investors against losses associated with borrower default on residential mortgage loans.
In 1999, PMI was the first U.S. mortgage insurer to enter the Hong Kong market. PMI provides mortgage reinsurance to the Hong Kong Mortgage Corporation Limited (HKMC), a public sector entity created to add liquidity to the Hong Kong residential mortgage market. HKMC insures residential mortgages with loan-to-value ratios of up to 95%. PMI Asia reinsures a portion of the risk insured by the HKMC.
