Through Roy's strong and successful leadership, APTIC
has done a tremendous job of achieving consistent, profitable growth while maintaining balanced financial stability with ratings that are among the highest in the industry.
is a regional title insurer with above average operating profitability, conservative investment and reserving practices, and strong agency monitoring and control systems.
recently reported results that include total revenue of $223 million and net income of $10.
also has been a pioneer in the sale of automation software to county recorder's offices through its subsidiary Aptitude Solutions.
1 million (after tax) gain from the sale of APTIC
recorded in the first quarter of 2004.
SPS, and for 2003 and the first quarter of 2004 the discontinued operations of APTIC
3) The operating results, assets and liabilities of APTIC
were reflected as discontinued operations in the fourth quarter of 2003 with prior period financial information reclassified accordingly.
Net income from the discontinued operations of APTIC
The sale of APTIC
is part of PMI's strategic plan to position itself as a leading global credit enhancement provider.
Mortgage Insurance Operation: Increase in Primary 1,961 Increase in GSE Pool 6,360 Decrease in Old Pool (5,083) Subtotal 282,959 Decrease in APTIC
(200) Decrease in PMI Australia (759) Balance as of December 31, 1999 $282,000
acquisition of APTIC
would augment this position, as Florida
dormant insurance companies and discontinued operations consisting of APTIC