AIG's United Guaranty Files For IPO Of Up To $100 Mln

(RTTNews) - United Guaranty Corp, a mortgage insurance unit of American International Group, Inc (AIG), disclosed in a regulatory filing that it filed for an initial public offering of up to $100 million.

United Guaranty plans to list on the New York Stock Exchange.

United Guaranty is private mortgage insurance company in the United States. It was formed in 1963 and has been a wholly-owned subsidiary of AIG since 1981.

United Guaranty reported net income of $359.8 million last year, down 8.6 percent from 2014. Revenue declined 11 percent to $922.6 million in the 12 months through December.