GE Mortgage Insurance Issues Statement on S & P

GE Mortgage Insurance announced the following statement in response to the decision of Standard & Poor’s, GE Mortgage Insurance on Credit Watch:

S & P’s decision despite the fact that our capital position has never been stronger.

The S & P action on the basis of a change in the S & P rating methodology, not on any change in the financial condition of GE Mortgage Insurance. S & P noted that changes in their rating criteria “now in the evaluation strategy for a subsidiary to a rating level between the parents unless there is a significant explicit support agreement with a better assessment of their parents. We believe we have such an agreement from GE Capital, the AAA rating from Standard & Poor’s. Our implicit and explicit support from GE Capital has not changed.

GE Mortgage Insurance always has been one of the most active participants in the insurance industry Mortgage and continue to maintain the capital and the S & P “AAA” requirements. Indeed, we have with the least risk to capital ratio (measuring the industry taking into account the capitalization of a company portfolio at risk) in the industry for the past five years.

The other two rating agencies Moody’s and Fitch, to continue to recognize, that are not the financial strength of GE Mortgage Insurance. Both rating agencies have recently confirmed the company at “AAA”, the highest level.

We welcome the fact that Standard & Poor’s provides GE Mortgage Insurance as a “solid foundation” and “very good results and the extremely high and low capitalization and experienced management.” These factors make it clear why GE Insurance includes improvements of quality such as mortgage insurance of his vision for the future.

GE Mortgage Insurance (website: http://www.gemortgageinsurance.com) is part of GE Insurance, a global family of insurance companies and reinsurance companies with $ 13.6 billion in premiums and values of $ 188 billion. GE provides life insurance, pension products, damage and accident prevention services risk, mortgage insurance, finance and selective bond. GE Insurance is part of General Electric Company, diversification, technology and production companies with offices around the world.