February 4th - 2010

Teachers buy into mortgage insurance business

A private investor group, in which Ontario Teachers’ Pension Plan is the lead sponsor, is set to buy the Canadian mortgage insurance business of American International Group Inc (AIG).

A private investor group, in which Ontario Teachers’ Pension Plan is the lead sponsor, is set to buy the Canadian mortgage insurance business of American International Group Inc (AIG). AIG United Guaranty Canada, headquartered in Toronto, is the second largest private mortgage insurance provider in Canada with assets of C$274 million and total equity of C$127 million. AIG's sale of the Canadian mortgage division is the latest business unit to be sold by the insurance giant in an effort to help repay a US government bailout package received last year worth more than US$180 billion.

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Ontario Real Estate Association

Jean-Adrien Delicano

Manager, Media Relations

JeanAdrienD@orea.com

416-445-9910 ext. 246