Arch MI to Acquire RMIC Companies, Inc. from Old Republic
November 13, 2023
Arch U.S. MI Holdings (Arch MI), a subsidiary of Arch Capital Group Ltd., has signed a definitive agreement to acquire RMIC Companies, Inc. and its subsidiaries, the run-off mortgage insurance business of Old Republic International Corporation. RMIC's approximately $1.0 billion risk-in-force portfolio will be integrated into Arch MI's U.S. primary mortgage portfolio; the transaction is expected to close in the first half of 2024, subject to regulatory approval.
- Buyers
- Arch U.S. MI Holdings (Arch MI)
- Targets
- RMIC Companies, Inc.
- Sellers
- Old Republic International Corporation
- Industry
- Insurance
- Location
- North Carolina, United States
- Transaction Type
- Divestiture
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