United Guaranty, a spinoff of AIG's residential mortgage insurance business, withdrew its plans for an initial public offering on Friday. It originally filed in March 2016 with a proposed deal size of $800 million.
The Greensboro, NC-based company was founded in 1963 and booked $869 million in sales for the 12 months ended March 31, 2016. It had planned to list on the NYSE under the symbol UGC. J.P. Morgan and Morgan Stanley were set to be the joint bookrunners on the deal.
