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Arch MI Secures Over $653 Million of Indemnity Reinsurance from Insurance-linked Note Transaction

Arch Capital Group Ltd (ACGL)  More Company Research Source: Business Wire
Last arch capital group ltd earnings: 10/30 04:04 pm Check Earnings Report
PDF GREENSBORO, N.C.--(BUSINESS WIRE)-- Arch Mortgage Insurance Company (“Arch MI”) announced today that it has obtained $653,278,000 of indemnity reinsurance from Bellemeade Re 2018-2 Ltd., a special purpose insurer. The reinsurance is for a portfolio of mortgage insurance (MI) policies issued by Arch MI and affiliates between April 2013 and December 2015. The senior M-1A class notes received ratings of AAA from Morningstar and A+sf from Fitch Ratings. This transaction marks the third time Arch MI has accessed the capital markets for a risk transfer involving a mortgage insurance portfolio. Altogether, five Bellemeade transactions have been completed and have garnered nearly $2 billion of reinsurance protection for loans representing more than $192 billion of unpaid principal balance. This transaction’s $653,278,000 of reinsurance protection is believed to be the largest insurance-linked security (ILS) issue bac [Read more]

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