Brookfield-backed Sagen MI Canada completed the acquisition of a 31% stake in India Mortgage Gaurantee.

Brookfield-backed Sagen MI Canada, a residential mortgage insurer, completed the acquisition of a 31% stake in India Mortgage Gaurantee, a provider of mortgage guarantee services. Financial terms were not disclosed. “With this, Sagen will become the second largest shareholder. The proposed transaction will close after receipt of customary statutory and regulatory approvals. The proceeds will provide growth capital to the business and support the enhancement of operational and technological capabilities while maintaining a robust risk management framework,” IMGC.