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MGIC Australia Pty Limited

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MGIC Australia Pty Limited

Overview:

MGIC Australia Pty Ltd, based in Sydney, is a wholly-owned subsidiary of Mortgage Guaranty Insurance Corporation (MGIC), the leading lender’s mortgage insurer in the US. Our holding company, MGIC Investment Corporation, is listed as “MTG” on the New York Stock Exchange.

Our parent company, MGIC, was the very first LMI provider in Australia, through Mortgage Guaranty Insurance Corporation of Australia Ltd (MGICA), established in 1965. MGICA underwent a local listing in 1973, and the company was subsequently acquired in 1979 by a JV that included AMP General Insurance Holdings Ltd. MGIC’s decision to divest its stake in MGICA at that time reflected what its management felt was in the best, long-term interests of the entity and its customers.

In the last few years, we saw very strong demand emerge for additional LMI capacity and service innovation in the Australian mortgage lending market. MGIC was uniquely positioned to meet that demand, based on our strong balance sheet, focus and mixture of global and local LMI expertise, and we re-established business operations here, receiving our General Insurer’s license from APRA in May 2007.

MGIC Australia draws on the heritage of innovation, superior customer service and market leadership of its US parent. Applying those strengths, we offer efficient servicing of our mortgage insurance products to our Australian lending partners.

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