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Closing Glance: Insurers

By Associated Press
June 20, 2008 | Comments (0)

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Shares of insurers mostly fell as broader markets tumbled and a day after bond insurers Ambac Financial Group Inc. and MBIA Inc. saw their critical financial strength ratings cut by Moody's Investors Service.

Shares of mortgage insurers MGIC Investment Corp., PMI Group Inc. and Radian Group Inc. fell, even though Freddie Mac said late in the day the trio will remain eligible to insure Freddie-owned mortgages.

Here's a look at how some insurers fared Friday:

Ambac Financial rose 2 cents to $2.05.

MBIA fell 86 cents, or 13.3 percent, to $5.59.

MGIC Investment declined 4 cents to $9.20.

PMI Group fell 40 cents, or 10 percent, to $3.61.

Radian Group declined 24 cents, or 9.2 percent, to $2.36.

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