The PMI Group's CEO Discusses Q2 2011 Results - Earnings Call Transcript

The PMI Group, Inc. (PMI)

Q2 2011 Earnings Call

August 4, 2011 12:00 PM ET

Executives

Bill Horning – VP, IR

Stephen Smith – Chairman, President, CEO and COO

Donald Lofe – EVP, Chief Financial & Administration Officer

David Katkov – Chief Business Officer and EVP

Analysts

Mark DeVries – Barclays Capital, Inc.

Scott Frost – Bank of America Merrill Lynch

John Benda – Susquehanna Financial Group LLP

Chris Gamaitoni – Compass Point Research & Trading LLC

Josh Kramer – JPMorgan Securities

Steve Stelmach – FBR Capital Markets

Ed Groshans – Height Analytics LLC

Presentation

Operator

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Hello, and welcome to the Second Quarter 2011 Financial Results Conference Call for the PMI Group. At this time all the participants are in a listen-only-mode. Following the presentation, we will conduct a question-and-answer session. (Operator Instructions). Today’s call is being recorded. If you have any objections, you may disconnect at this time.

Now, I will turn the meeting over to Mr. Bill Horning, Vice President, Investor Relations. Sir, you may begin.

Bill Horning

Thank you, operator. Good morning and welcome to the PMI Group’s second quarter 2011 financial results conference call. Today’s call will begin with comments from Steve Smith, PMI’s Chairman and Chief Executive Officer. Mr. Smith will discuss PMI’s overall financial results and other matters for the second quarter. After the prepared remarks, Steve Smith along with Don Lofe, PMI’s Executive Vice President, Chief Financial Officer and Chief Administrative Officer, and David Katkov, PMI’s Executive Vice President and Chief Business Officer, will be available to answer your questions.