PMI Group Inc., the second-largest U.S. mortgage insurer, said its third-quarter loss from continuing operations grew 35% from a year earlier, to $149.3 million, or $1.83 a share, as premiums declined and investment losses mounted.

The Walnut Creek, Calif., company said Monday that its net loss in the quarter nearly tripled, to $229.4 million, or $2.81 a share. Excluding one-time expenses, Wall Street analysts on average had expected it to report a loss of $2.42 a share.

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