PMI Announces the Promotion of David J. Hamilton to Assistant Vice President of Corporate Development.WALNUT CREEK, Calif. -- PMI See Private Mortgage Insurance. Capital Corporation, a subsidiary of The PMI Group, Inc. (NYSE NYSE See: New York Stock Exchange :PMI), today announced the promotion of David J. Hamilton to Assistant Vice President of Corporate Development. In addition to leading the analysis of PMI's current financial guaranty investments, Hamilton will be responsible for evaluating, developing, and supporting initiatives that will strengthen and expand PMI's presence in financial guaranty and related credit enhancement Credit Enhancement A method whereby a company attempts to improve its debt or credit worthiness. Notes: Credit enhancements take many different forms. An example of a credit enhancement would be conversion rights added on to a debt instrument in order to lower the issuing sectors. He will also assist with development and implementation of corporate strategy. "David has taken a key leadership position in managing our strategic investments, including our investment in FGIC FGIC See Financial Guaranty Insurance Corporation (FGIC). ," said Art Slepian, Senior Vice President and Managing Director of Financial Guaranty. "His expertise and experience in financial guaranty will help PMI continue its expansion efforts in this area." Hamilton joined PMI Capital Corporation in 2002. Prior to PMI, he held various corporate development and consulting roles in the United States and Canada. PMI Capital Corporation manages PMI's international operations, consisting of PMI Australia, PMI Europe, and PMI Asia, as well as the financial guaranty sector, which consists of the company's strategic investments in Financial Guaranty Insurance Corporation and RAM Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. Company. The PMI Group, Inc. The PMI Group, Inc. (NYSE:PMI), headquartered in Walnut Creek, CA, is an international provider of credit enhancement products that promote homeownership and facilitate mortgage transactions in the capital markets. Through its wholly owned subsidiaries and unconsolidated strategic investments, the company offers residential mortgage insurance and credit enhancement products domestically and internationally, financial guaranty insurance, and financial guaranty reinsurance. Through its subsidiaries, The PMI Group, Inc. is one of the world's largest providers of private mortgage insurance with operations in the United States, Australia, New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. , and the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community , as well as one of the largest providers of mortgage guaranty reinsurance in Hong Kong. For more information: www.pmigroup.com. |
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