Please refer to PDF document for more detail about our research: DBRS Morningstar Confirms Sagen Mortgage Insurance Company Canada’s Financial Strength at AA, and Sagen MI Canada Inc.’s Issuer Rating at A (high); All Trends Are Stable
After a period of particularly strong housing market conditions fueled by low interest rates and good consumer balance sheets during the Coronavirus Disease (COVID-19) pandemic, signs of weakness have emerged, led by lower home prices and reduced sales activity since March 2022. Canada's mortgage insurers have benefitted from favourable housing market conditions allowing them to achieve strong profitability ratios in 2021, in some cases the highest on record. Key highlights include: -- Since t...
Please refer to PDF document for more detail about our research: DBRS Morningstar Confirms Sagen Mortgage Insurance Company Canada’s Financial Strength Rating at AA and Sagen MI Canada Inc.’s Issuer Rating at A (high); All Trends Are Stable
On April 4, 2022, DBRS Limited (DBRS Morningstar) confirmed the Financial Strength Rating of Sagen Mortgage Insurance Company Canada (previously Genworth Financial Mortgage Insurance Company Canada) at AA with a Stable trend. In addition, DBRS Morningstar confirmed the Issuer Rating and Senior Unsubordinated Debt rating of Sagen MI Canada Inc. (Sagen or the Company) at A (high), the Preferred Shares rating at Pfd-2 (high), and the Fixed-to-Fixed Rate Subordinated Notes rating at A (low). All tre...
Please refer to PDF document for more detail about our research: DBRS Morningstar Confirms Sagen Mortgage Insurance Company Canada’s Financial Strength Rating at AA and Sagen MI Canada Inc.’s Issuer Rating at A (high); All Trends Are Stable
Please refer to PDF document for more detail about our research: DBRS Morningstar Changes Trends on Genworth Financial Mortgage Insurance Company Canada and Sagen MI Canada Inc. (Sagen) to Stable from Negative; Confirms Issuer Rating of Sagen at A (high)
Despite the initial volatility of debt capital markets following the start of the Coronavirus Disease (COVID-19) pandemic, Canadian insurance companies issued debt and preferred shares in record numbers during 2020. Nine DBRS Morningstar-rated insurance issuers tapped long-term debt markets, issuing almost $13 billion of bonds and preferred shares.
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