S&P Lowers Outlook on Arch Capital Group Ltd (ACGL) to Negative Amid United Guaranty Deal
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Arch Capital Group Ltd. to Acquire United Guaranty Corporation
August 15, 2016 4:47 PM EDTHAMILTON, Bermuda--(BUSINESS WIRE)-- Arch Capital Group Ltd. (Nasdaq: ACGL) (Arch) today announced that it has entered into a definitive agreement to acquire United Guaranty Corporation (UGC) and AIG United Guaranty Insurance (Asia) Limited from their current owner, American International Group, Inc. (AIG). The combination of Archs existing mortgage insurance business with UGCs established business will create the largest private mortgage insurer in the world, based on insurance in-force, with a global footprint. At closing, Arch will pay to AIG aggregate consideration of approximately $3.4 billion, payable in a combination of cash and... More
