United Guaranty Corp., the mortgage insurance subsidiary of American International Group Inc., posted operating income of $154 million for the fourth quarter, compared with a $241 million loss a year earlier.
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The company credited continued improvement in market conditions, lower levels of new delinquencies, a decline in claims and claim adjustment expenses, and commutations of certain blocks of business.
AIG reported net income of $11.2 billion overall for the three months, but much of the profit was tied to money it received from selling some of its core businesses.
