Sagen MI Canada Inc - Company Profile
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Sagen MI Canada Inc (Sagen) is a provider of mortgage insurance products and related services. The company underwrites private residential mortgage insurance for homebuyers, including individuals, families, self-employed persons, immigrants, and builders. It offers homebuyer programs such as the investment property program, family plan program, borrowed down payment program, secondary home program, energy-efficient housing program, and purchase plus improvements program. The company also provides support services such as loan assistance, mortgage planning services, product solutions, homeowner assistance programs, and training programs for lenders, real estate agents, builders, and mortgage brokers. It operates through a network of underwriting offices in Canada. Sagen is headquartered in Oakville, Ontario, Canada.
Headquarters
Canada
Address
2060 Winston Park Dr Suite 300, Oakville, Ontario, L6H5R7
Website
www.sagen.ca
Telephone
1 905 2875484
No of Employees
260
Industry
Financial Services
Ticker Symbol & Exchange
MIC.PR.A (TSE)
Revenue (2024)
$672.7M
-10%
(2024 vs 2023)
EPS
XYZ
Net Income (2024)
XYZ
-13.5%
(2024 vs 2023)
Market Cap*
$66.0M
Net Profit Margin (2024)
XYZ
-4.0%
(2024 vs 2023)
* As of and is in US$
Sagen MI Canada Inc premium industry data and analytics
Products and Services
| Products | Services |
|---|---|
| Mortgage Insurance | Loan Assistance |
| Cashback Equity Programs | Underwriting |
| Business for Self Program | Mortgage Insurance Applications Processing |
| XYZ | XYZ |
| XYZ | XYZ |
| XYZ | XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2022 | Contracts/Agreements | In April, the company entered into an agreement to acquire a 31% stake in India Mortgage Guarantee Corporation. |
| 2021 | Acquisitions/Mergers/Takeovers | In April, the company was acquired by Brookfield Business Partners LP. |
| 2021 | Corporate Changes/Expansions | In February, the company changed its name to Sagen MI Canada Inc. |
Competitor Comparison
| Key Parameters | Sagen MI Canada Inc | First National Financial Corp | Canada Mortgage and Housing Corp | Canada Guaranty Mortgage Insurance Company | First Canadian Title |
|---|---|---|---|---|---|
| Headquarters | Canada | Canada | Canada | Canada | Canada |
| City | Oakville | Toronto | Ottawa | Toronto | Oakville |
| State/Province | Ontario | Ontario | Ontario | Ontario | - |
| No. of Employees | 260 | 1,771 | - | - | - |
| Entity Type | Public | Public | Private | Private | Private |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Erson Olivan | Chairman | Executive Board | - | - |
| Stuart Levings | President; Director; Chief Executive Officer | Executive Board | 2015 | - |
| Ed Orlik | Senior Vice President; Chief Information Officer | Senior Management | 2022 | - |
| Craig Sweeney | Chief Risk Officer; Senior Vice President | Senior Management | - | - |
| Amit Chalam | Senior Vice President; Chief Financial Officer | Senior Management | 2023 | - |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
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