PMI Group, a mortgage insurer, will be sold to the public by parent Allstate Corp. through a stock offering that could raise as much as $735 million.

If the offering comes off, PMI will become the fourth publicly traded mortgage insurer, joining Mortgage Guaranty Insurance Corp., Commonwealth Mortgage Assurance Corp., and Triad Guaranty Corp.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.