Sagen MI Canada Inc.

Sagen MI Canada Inc. , based in Canada, operates as the country's largest private default mortgage insurance provider, facilitating homeownership through innovative insurance solutions. Founded in 1995 and headquartered in Oakville, Canada, Sagen MI Canada Inc. specializes in providing mortgage insurance that allows borrowers to secure mortgages with low down payments.

In October 2020, Brookfield Asset Management acquired a minority stake in the company for CAD 1. 63 billion. The firm has engaged in two notable deals since its inception, showing its growth trajectory in the mortgage insurance sector. The current CEO is Stuart Levings.

Sagen™ provides a wide range of mortgage insurance services that enable homebuyers, including first-time buyers and recent immigrants, to secure mortgages with as little as a 5% down payment. The company offers essential support to lenders by mitigating risks associated with low down payment mortgages. Sagen serves mortgage professionals, lenders, and individual homebuyers across Canada, enhancing their financial well-being through various educational resources and assistance programs. Additional offerings include underwriting policies and homeowner assistance initiatives for those facing financial difficulties, along with industry insights to aid lenders.

In the fiscal year 2022, Sagen reported a revenue of CAD 3,719,000,000 and an EBITDA of CAD 734,000,000. The company's revenue primarily stems from premiums collected on mortgage insurance policies, structured through partnerships with financial institutions, facilitating the integration of their products into the mortgage approval process. Sagen MI Canada Inc. is poised for future growth by leveraging its recent funding to enhance its service offerings and expand its market reach.

The capital from the CAD 1. 63 billion transaction with Brookfield Asset Management will support the development of innovative products and services aimed at improving customer access to mortgage financing. Plans include targeting new geographic markets and refining existing offerings to adapt to evolving customer needs, reflecting the company's commitment to fostering homeownership across diverse segments.