Arch Capital Closes $253M Buy Of US Insurance Cos.

Law360, New York (January 31, 2014, 7:52 PM EST) -- U.S. subsidiaries of Arch Capital Group Ltd. have closed on an acquisition of CMG Mortgage Insurance Co. and the mortgage insurance operating platform of PMI Mortgage Insurance Co., the company said Thursday.

The deal enables Arch U.S. MI, an Arch Capital U.S. subsidiary, to enter into the U.S. mortgage insurance marketplace, as well as providing it with mortgage insurance licenses across the U.S., the company said. Under the deal, CMG MI will be renamed “Arch Mortgage Insurance Co.” and has already obtained approval as a mortgage...
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