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New Environment Lures United Guaranty to Taiwan's Market.
United Guaranty Corp. and the Taiwan minister of finance have announced the establishment of United Guaranty's first Taiwan branch office.
Through its Taipei location, United Guaranty Corp. subsidiary United Guaranty Mortgage Indemnity Co. will offer mortgage guaranty insurance to Taiwan's financial institutions.
"The establishment of our branch reflects United Guaranty's commitment to the global market," said Bill Nutt, United Guaranty president and CEO. "Mortgage insurance is increasingly offered in markets with advanced housing finance systems, and Taiwan's recent passage of the Financial Asset Securitization Law positions it to create a highly liquid secondary mortgage market. We believe that private mortgage insurance can play an important role in supporting Taiwan's housing finance industry."
"We have been actively exploring Taiwan for a number of years, and our formal investment represents the culmination of a significant effort on the part of many," said Doug Rivenburgh, senior vice president and group executive of United Guaranty's international group. "The Taiwan Ministry of Finance has assisted tremendously in the introduction of this new and unique line of insurance. Without their support, this venture would not have become a reality. The efficiency of the approval process ...
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Source: HighBeam Research, New Environment Lures United Guaranty to Taiwan's Market.