Helia, the mortgage insurer once known as Genworth, lost almost a fifth of its market value after its biggest client said it would put a lucrative contract up for tender.
Helia said in a statement that the Commonwealth Bank had advised of its “intention to issue a request for proposal relating to its external lenders mortgage insurance requirements”.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
