Arch’s Global Mortgage Group to buy Westpac unit
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Arch’s Global Mortgage Group to buy Westpac unit

Arch Capital’s mortgage unit has agreed to buy Australian captive lenders’ mortgage insurance provider Westpac Lenders Mortgage Insurance (WLMI).

WLMI had shareholders’ equity of A$285.7mn ($223.35mn) as of 30 September 2020, Arch said.

Westpac added the transaction will be priced at book value on completion in the second half, with additional small fixed annual payments due the seller over...

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