Last Updated: September 8, 2020
Information on the Proposed Internal Reorganization of the MGIC Group, including the Merger of MGIC Reinsurance Corporation of Wisconsin, with and into Mortgage Guaranty Insurance Corporation, and Change in the Direct Control of MGIC Credit Assurance Corporation from Mortgage Guaranty Insurance Corporation to MGIC Investment Corporation
Mortgage Guaranty Insurance Corporation and MGIC Investment Corporation filed a Form A, “Statement Regarding the Acquisition of Control of or Merger with a Domestic Insurer," dated September 1, 2020, which was received by the OCI on the same date, whereby they proposed three transactions to reorganize certain aspects of their holding company system effective September 1, 2020:
MGIC Reinsurance Corporation of Wisconsin would merge with and into Mortgage Guaranty Insurance Corporation;
There would be a stock dividend of all of the common stock of MGIC Credit Assurance Corporation by Mortgage Guaranty Insurance Corporation to MGIC Investment Corporation; and
Prior to the merger of MGIC Reinsurance Corporation of Wisconsin with and into Mortgage Guaranty Insurance Corporation, MGIC Reinsurance Corporation of Wisconsin proposes to assign all right, title and interest, as the sole owner and member of MGIC Mortgage and Consumer Asset II, LLC, a Delaware limited liability company, to MGIC Credit Assurance Corporation.
The filing is subject to 611.72 (3m), Wis. Stat., which does not require a hearing for a proposed plan of merger or other plan for acquisition of control between affiliates. The transactions proposed in the Form A were approved on September 3, 2020, with the requested effective date of September 1, 2020.
List of Filed Exhibits