Read
- Whole neighborhoods razed by Oklahoma tornado that killed 24
|
- Analysis: Some Republicans see new scandal in Sebelius fundraising
- Convicted U.S. killer Arias would join tiny death row group
- Drop in U.S. underground water levels has accelerated -USGS
- Israel fires back at Syria after gunshots at its troops
Sponsored Links
Arch Capital to enter U.S. mortgage insurance market
Feb 8 (Reuters) - Reinsurer Arch Capital Group Ltd said its U.S. subsidiary Arch U.S. MI will acquire CMG Mortgage Insurance Co and the operating platform of PMI Mortgage Insurance Co for about $300 million to enter the U.S. mortgage insurance market.
Additional amounts may be paid based on the actual results of CMG MI's pre-closing portfolio over an agreed upon period, Bermuda-based Arch Capital said in a statement.
The transaction is expected to close within 12 months, subject to regulatory approvals, Arch Capital said.
Shares of Arch Capital closed at $47.51 on Thursday on the Nasdaq.
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.
Follow Reuters