Insurance Brokers M&A » By The Online Investor Staff, updated Fri., Apr. 26, 12:07 PM
Recent mergers and acquisitions in the Insurance Brokers M&A category.
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Slide #33. Arch Capital Group Ltd. — CMG MI and PMI's Operating Platform
Acquirer:
Arch Capital Group Ltd. (NASDAQ:ACGL)
Acquiree:
CMG MI and PMI's Operating Platform
Details:
Arch Capital Group Ltd. (NASDAQ:ACGL) today announced that its U.S.-based subsidiaries (Arch U.S. MI) have completed the acquisition of CMG Mortgage Insurance Company (CMG MI) and the mortgage insurance operating platform of PMI Mortgage Insurance Co. (PMI). As part of the transaction, CMG MI, which will be renamed "Arch Mortgage Insurance Company," has obtained approval as an eligible mortgage insurer from Fannie Mae and Freddie Mac, subject to maintaining certain ongoing requirements.
Arch Capital Group is a holding company. Through its subsidiaries, Co. provides insurance, reinsurance and mortgage insurance. Co.'s underwriting segments are: insurance, which includes construction and national accounts, excess and surplus casualty, lenders products, professional lines, programs, and property, energy, marine and aviation; reinsurance, which includes casualty, marine and aviation, other specialty, property catastrophe, and property excluding property catastrophe; and mortgage, which includes its U.S. primary mortgage insurance, U.S. credit risk transfer that are mainly with government sponsored enterprises and international mortgage insurance and reinsurance operations.
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Avg. Broker Rec.
 
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Buy (3.25 out of 4) 43rd percentile
(ranked lower than approx. 57% of all stocks covered)
Analysts' Target Price: ACGL Stock Forecast Based on Zacks ABR data; powered by Xignite |
