UPDATE 1-Old Republic sells stake in unit ahead of planned spinoff
May 21, 2012 at 17:54 PM EDT
May 21 (Reuters) - Mortgage insurer Old Republic International Corp said it sold a 20.6 percent stake in its recently formed Republic Financial Indemnity Group Inc (RFIG) division and plans to spin off all of the unit's common stock as a taxable dividend to its shareholders.