National Housing Bank (NHB), a wholly owned subsidiary of the Reserve Bank of India (RBI), is the regulator and supervisor for Housing Finance Companies. IMGC benefits from NHB’s in-depth understanding of the domestic housing finance market and participants. ICRA has a long term rating of [ICRA]AAA (stable) to the long term debt programme of NHB.
Genworth Financial Inc. is an insurance company with roots tracing back to 1871. Genworth is a global insurance provider offering a range of products including mortgage insurance, annuities, life insurance, and long term care insurance. Genworth operates through an extensive global network with a presence in more than 25 countries and had a mortgage guarantee risk in force of US $29 billion in December 2014. Genworth Holdings Inc is rated by Moody’s Investor Service at ‘Ba1 (negative)’.
IMGC leverages Genworth’s extensive experience of operating in the mortgage guarantee industry globally. Genworth is a technical service partner in the JV and provides IMGC with its in-house technical support and systems.
Asian Development Bank (ADB) is owned by 67 members, including 48 from the Asian region. ADB helps its developing member countries reduce poverty and improve quality of life through policy dialogues, loans, equity investments, guarantees, grants, and technical assistance. An ADB representative is appointed on the board of IMGC. IMGC is a board managed company with close involvement of the key shareholders through their respective board representations.
International Finance Corporation (IFC), member of the World Bank Group, is the largest global development institution focused exclusively on the Private Sector. IFC helps developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. An IFC representative is appointed on the board of IMGC.