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The default rate across the industry is less than 0.5% & that includes all the low lvr's out there. Average lvr is around 70% at origination so systemically lvr average would be 50% or less. The insurers must watch out for systemic risk though tongue firmly in cheek.

Nice Pete. They are wildly profitable. Last reporting period genworth reported loss ratio of 19.6 per cent. In plain English that means they have a profit margin of 80%. From Wikipedia...For insurance, the loss ratio is the ratio of total losses incurred (paid and reserved) in claims plus...

No they don't have to take LMI and not everyone deserves a home loan etc but do you do realise the average house in Sydney is about $850K? So you need about $100k deposit saved just to get into an average house. Wages are a only marginally higher than some other places in the country but not as...

Lmi is a joke! QBE looking to float this part of their business as is so profitable. Genworth likewise announced a while back 50% odd increase in profits. This is on the back of 50% increases to their premiums rates since 2009. Meanwhile many first (and second) time borrowers are forced to look...