Arch Mi Secures Over $643 Million Of Indemnity Reinsurance Through Bellemeade Re Insurance-Linked Note Transaction And Related Reinsurance
Arch Mi Secures Over $643 Million Of Indemnity Reinsurance Through Bellemeade Re Insurance-Linked Note Transaction And Related Reinsurance
03/30/21, 3:16 PM
Location
greensboroMoney raised
$643 million
Arch Mortgage Insurance Company (Arch MI) announced that it has obtained over $643 million of indemnity reinsurance on a pool representing approximately $38 billion of mortgages from Bellemeade Re 2021-1 Ltd., a special purpose reinsurer. The coverage was obtained by issuing approximately $580 million in bonds and $64 million in direct reinsurance. This transaction largely covers a portfolio of MI policies issued by Arch MI and affiliates from September through November 2020.
Company Info
Location
greensboro, north carolina, united states
Additional Info
Arch MI, a wholly owned subsidiary of Arch Capital Group Ltd., is a leading provider of private insurance covering mortgage credit risk in the U.S. Headquartered in Greensboro, North Carolina, Arch MI's mission is to protect lenders against credit risk, while extending the possibility of responsible home ownership to qualified borrowers. Arch MI’s flagship mortgage insurer, Arch Mortgage Insurance Company, is licensed to write mortgage insurance in all 50 states, the District of Columbia and Puerto Rico. For more information, visit archmi.com.