Arch MI (ACGL) to Acquire RMIC Companies
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Arch MI to Acquire RMIC Companies, Inc.
November 13, 2023 7:00 AM ESTGREENSBORO, N.C.--(BUSINESS WIRE)-- Arch U.S. MI Holdings (Arch MI), a wholly owned subsidiary of Arch Capital Group Ltd., today announced it has entered into a definitive agreement to acquire RMIC Companies, Inc. (RMIC) and its subsidiaries that together comprise the run-off mortgage insurance business of Old Republic International Corporation.
Once the transaction is closed, RMICs $1 billion risk in force (RIF) portfolio will be integrated into Arch MIs existing U.S. primary mortgage portfolio, which had a RIF of $75.9 billion at Sept. 30, 2023.
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