The United States-based AIG United Guaranty, whose affiliate companies provide mortgage guaranty insurance designed to increase home ownership, is exploring several Asian markets, including India, China, Japan and South Korea, to expand its business.
"These developments build logically on our Hong Kong operations, which were initially developed in partnership with the Hong Kong Mortgage Corporation," senior vice president and group executive-international group, Doug Rivenburgh said.
In addition, AIG United Guaranty has secured the first and only mortgage insurance license in Taiwan.
"These steps reflect our long-term commitment to global operations, with strong emphasis on Asia," Rivenburgh said.
Although the company will focus on delivering mortgage default insurance to product lenders against losses on mortgages that go into foreclosure, AIG United Guaraty is exploring other mortgage-finance related services and products.
The subsidiaries of United Guaranty Corporation, with 29 locations worldwide, provide mortgage guaranty insurance and other mortgage-related financial services to mortgage lenders and investors.