Sagen MI Canada Inc 5.4 % Non-Cum Red Pfd Registered Shs A Series 1
21.90
CAD
-0.10
(-0.45%)
ISIN
CA7866883092
CUSIP
786688309
Return %
Stock
S&P 500
1Y
-7.52
14.20
3Y
25.14
81.12
5Y
-20.36
68.34
Capital Structure
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Company Description
- CEO
- Stuart Levings
- Sector
- Finance
- Industry
- Property/Casualty insurance
- Address
- Oakville Canada
- IPO Date
- Jul 7, 2009
- Website
- sagen.ca
- Similar Companies
- Business
- Sagen MI Canada Inc., formerly known as Genworth MI Canada Inc., is a Canadian financial services company and the largest private-sector underwriter of residential mortgage default insurance in Canada. Operating primarily through its principal subsidiary, Sagen Mortgage Insurance Company Canada, the company provides credit risk mitigation solutions to Canadian residential mortgage lenders, enabling borrowers to access homeownership with lower down payments while protecting financial institutions against default-related losses. Sagen MI Canada Inc. offers a comprehensive range of mortgage insurance products and institutional services, including transactional mortgage default insurance for high-ratio residential purchase loans; portfolio and bulk mortgage insurance for low-ratio loan books; the Homebuyer 95 Program for prime borrowers with down payments as low as five percent; the New to Canada Program designed for recent immigrants and foreign professionals establishing Canadian credit history; the Borrowed Down Payment Program; the Family Plan Program for assisting family members in purchasing residential real estate; the Vacation and Secondary Homes Program; the Investment Property Program for residential investor purchases; the Purchase Plus Improvements Program for home acquisition coupled with renovation financing; the Energy-Efficient Housing Program featuring premium refunds for eco-friendly properties; the Second Mortgage Program; the Refinance for Secondary Suites Program; mortgage insurance portability features facilitating transfer of existing coverage to new property purchases; the Homeowner Assistance Program (HOAP) providing delinquency management, structured loan workouts, and foreclosure prevention tools; and specialized risk analytics, automated underwriting interfaces, market research, and educational compliance training for originators and lending partners. The company delivers its mortgage insurance solutions across all provinces and territories in Canada, serving a diverse client base that comprises Tier-1 and regional chartered banks, credit unions, caisses populaires, trust companies, and non-bank monoline lenders. Sagen MI Canada Inc. traces its operational history to 1995, was incorporated in 2009, and is headquartered in Oakville, Ontario, Canada. The company operates as a key portfolio holding of Brookfield Business Partners L.P. and Brookfield Corporation following the full privatization and rebranding of the enterprise. In recent strategic and corporate developments, Sagen MI Canada Inc. has actively optimized its capital structure and balance sheet flexibility through senior unsecured debenture issuances, including a 300 million Canadian dollar debt placement due September 2033 to refinance near-term debenture obligations. The company also earned a credit rating upgrade to A- from BBB+ by S&P Global Ratings, reflecting its sustained capitalization, conservative loss ratios, and strong competitive standing in the Canadian housing finance market. In addition, the organization continues to enhance its digital underwriting infrastructure and risk scoring models to support evolving federal mortgage stress-test guidelines and expand electronic loan processing integrations for partner financial institutions.