Arch MI Secures Over $621 Million of Indemnity Reinsurance through Bellemeade Re Insurance-Linked Note Transaction
Arch Capital Group Ltd. (ACGL)
Last arch capital group ltd. earnings: 2/11 04:31 pm
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Source: Business Wire
GREENSBORO, N.C.--(BUSINESS WIRE)-- Arch Mortgage Insurance Company (“Arch MI”) announced today that it has obtained $621,022,000 of indemnity reinsurance on a pool representing $35.58 billion of mortgages from Bellemeade Re 2019-2 Ltd., a special purpose reinsurer. This insurance-linked note (ILN) transaction provides Arch MI with collateralized coverage for potential losses on a portion of its mortgage insurance (MI) portfolio. The reinsurance is for a portfolio of MI policies linked to 143,840 loans issued by Arch MI and affiliates primarily during the second half of 2018. The most senior M-1A class notes received an A rating from Morningstar Credit Ratings, LLC. This is Arch’s second 2019 ILN transaction, following Bellemeade 2019-1, which was issued in March. In total, Arch has issued eight Bellemeade transactions, which have provided aggregate reinsurance coverage of approximately $3.5 bill
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- Arch Capital Group Ltd. (ACGL) Benefitted From Attractive Market Conditions [Yahoo! Finance]Yahoo! Finance
- Arch Capital Group Ltd. (NASDAQ: ACGL) had its price target raised by analysts at Morgan Stanley from $104.00 to $109.00. They now have an "overweight" rating on the stock.MarketBeat
- Arch Capital Group Ltd. (NASDAQ: ACGL) had its "market outperform" rating re-affirmed by analysts at JMP Securities. They now have a $100.00 price target on the stock.MarketBeat
- Reasons Why Investors Should Retain Arch Capital (ACGL) [Yahoo! Finance]Yahoo! Finance
- Arch Capital Group Ltd. (NASDAQ: ACGL) had its price target raised by analysts at Evercore ISI from $92.00 to $100.00. They now have an "in-line" rating on the stock.MarketBeat
ACGL
Earnings
- 2/14/24 - Beat
ACGL
Sec Filings
- 4/5/24 - Form 8-K
- 3/28/24 - Form ARS
- 3/28/24 - Form DEFA14A
- ACGL's page on the SEC website