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Old Republic cancels recapitalization plans
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Industry News, Operations
Thursday, March 20, 2014
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Old Republic International Corp. cancelled a recapitalization plan by its Republic Mortgage Insurance Co. mortgage guaranty subsidiary. The decision is driven by a lack of success in attracting capital markets funding fully responsive to all the financial and other terms and conditions initially commissioned by RMICC. Al Zucaro, chairman and chief executive officer of Old Republic, said the outcome was “disappointing” but does not change the company’s long-term business objectives.
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