Radian Asset Assurance Inc.'s acquisition of Municipal and Infrastructure Assurance Corp. may signal its return to the struggling bond insurance industry after a 28-month hiatus. It also appears to mark the end of Macquarie Group's ill-timed attempt to enter the business.

Radian Asset was compelled to stop writing public finance guarantees in the fall of 2008 so it could prop up sister company Radian Guaranty, a mortgage insurance business. It announced its purchase of MIAC for $82 million on Thursday.

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