“We are excited about this deal and what it means to AIG and the Maintaining its existing mortgage insurance operations based inĬalifornia, and to combine the companies’ global operations in Europe, Our best-in-class processes in the specialty insurance space.”Īrch expects to retain a significant presence in North Carolina while The companies’ complementary risk management cultures will furtherĪccelerate innovation and sound risk management and help us to maximize Risk based pricing models and focus on data analytics. “We are excited about the combination of Arch and United Guarantyīecause these companies have led the market in innovation through their Specialty insurance and reinsurance businesses, which continue to beĬentral to our global, diversified operations.” Mortgage insurance segment expands and complements our strengths in the Insurance business through the acquisition of United Guaranty. Mac), and the satisfaction of customary closing conditions.Ĭonstantine (Dinos) Iordanou, Chairman and CEO of Arch, commented, “WeĪre extremely pleased to be able to expand our private mortgage (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie ![]() Government-sponsored enterprises (GSEs), including the North Carolinaĭepartment of Insurance, the Federal National Mortgage Association Quarter 2017, subject to approvals of the applicable regulators and That the transaction will close late Fourth Quarter 2016 or early First Up to $250 million from UGC to AIG prior to closing. Subject to regulatoryĪpprovals, the purchase price could be reduced by a special dividend of Mortgage insurance on a prospective basis. UponĬlosing, Arch or its subsidiaries will assume AIG’s quota share of UGC’s $3.4 billion, payable in a combination of cash and securities. ![]() AtĬlosing, Arch will pay to AIG aggregate consideration of approximately The world, based on insurance in-force, with a global footprint. TheĬombination of Arch’s existing mortgage insurance business with UGC’sĮstablished business will create the largest private mortgage insurer in Their current owner, American International Group, Inc. (Nasdaq:ACGL) (Arch) today announced that it hasĮntered into a definitive agreement to acquire United GuarantyĬorporation (UGC) and AIG United Guaranty Insurance (Asia) Limited from HAMILTON, Bermuda-( BUSINESS WIRE)-Arch Capital Group Ltd.
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