Mortgage
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The low degree of overlap between the combining portfolios benefits both parties. -
The mortgage insurer said Inigo will continue to operate as a standalone business.
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The Inigo CEO said the lack of portfolio crossover was highly attractive to Inigo.
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The partnership is Fidelis Insurance Group’s first third-party capacity deal.
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Arch stands out among hybrids, but Axis and Everest grind it out.
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Grandisson's sudden retirement could mean a complicated future for Arch.
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The consideration is expected to be around $140mn plus a $25mn dividend.
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Under an advisory agreement, Enact will provide underwriting expertise, market intelligence and portfolio analysis.
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The rating agency cited economic recovery, a strong housing market and improved capitalization as key factors driving its revision.
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The acquisition adds to Arch’s mortgage insurance operations in Bermuda, Europe and the US.
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Transaction marks the company’s second mortgage ILS deal of the year.
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The impact of the pandemic on the mortgage insurance market has been muted thus far.
