Amerin Guaranty Corp., a mortgage insurer, reported net income of $8.7 million, or 33 cents per share, for the first quarter- increases of 53% and 50%, respectively.

Revenues of $25 million were 54% higher than a year earlier. Net premiums totaled $20.5 million, up 69%. New insurance written was $1.8 billion, a modest decline of 4.8%.

As of March 31, Amerin's insurance in force was $16.2 billion, an increase of $1.4 billion from Dec. 31 and 66% from a year ago. Persistency, or the percentage of insurance remaining in force from one year before, was 89.3% on March 31, up from 87.6% on Dec. 31, and 87.8% on March 31, 1996.

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