Arch Capital Group Ltd. Confirms Participation in Freddie Mac’s New Mortgage Pilot Program
March 13 2018 - 5:26PM
Business Wire
Arch Capital Group Ltd. [NASDAQ:ACGL], a globally diversified
mortgage and property/casualty insurer and reinsurer, is committed
towards delivering traditional and innovative mortgage risk
transfer products that provide meaningful and affordable capacity
to the U.S. housing sector.
Arch today confirms that it is, through a new U.S. subsidiary
and in conjunction with Freddie Mac, piloting a new mortgage credit
risk transfer program, deemed “IMAGIN” (Integrated Mortgage
Insurance), to attract a diversified and robust capital base to the
U.S. housing market, in a highly efficient structure, that will
support market stability through economic cycles.
Arch has established a new Washington D.C. based subsidiary,
Arch MRT, which will insure Freddie Mac and transfer 100% of the
risk assumed to a panel of diversified, well-capitalized, and
highly rated (re)insurers that provide high quality collateral
assets in trust. This arrangement encourages additional
participants and capital to support first-loss exposure in
mortgages. The high quality panel of (re)insurers will
competitively bid, through a transparent process, to provide, over
the long term, lower cost mortgage insurance for borrowers.
Arch remains committed to providing mortgage risk transfer
solutions across many offerings such as primary mortgage insurance
through Arch Mortgage Insurance Company, credit risk transfer
transactions (CRT), MRT, and other forms of protection as the
marketplace evolves.
Arch Capital Group Ltd., a Bermuda-based company with
approximately $11.30 billion in capital at December 31, 2017,
writes insurance, reinsurance and mortgage insurance on a worldwide
basis through its wholly owned subsidiaries.
Cautionary Note Regarding Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a
“safe harbor” for forward-looking statements. This release or any
other written or oral statements made by or on behalf of Arch
Capital Group Ltd. and its subsidiaries may include forward-looking
statements, which reflect our current views with respect to future
events and financial performance. All statements other than
statements of historical fact included in or incorporated by
reference in this release are forward-looking statements.
Forward-looking statements can generally be identified by the
use of forward-looking terminology such as “may,” “will,” “expect,”
“intend,” “estimate,” “anticipate,” “believe” or “continue” or
their negative or variations or similar terminology.
Forward-looking statements involve our current assessment of risks
and uncertainties. Actual events and results may differ materially
from those expressed or implied in these statements. A
non-exclusive list of the important factors that could cause actual
results to differ materially from those in such forward-looking
statements includes the following: adverse general economic
and market conditions; increased competition; pricing and
policy term trends; fluctuations in the actions of rating
agencies and our ability to maintain and improve our ratings;
investment performance; the loss of key personnel; the
adequacy of our loss reserves, severity and/or frequency of
losses, greater than expected loss ratios and adverse development
on claim and/or claim expense liabilities; greater frequency
or severity of unpredictable natural and man-made catastrophic
events; the impact of acts of terrorism and acts of war;
changes in regulations and/or tax laws in the United States or
elsewhere; our ability to successfully integrate, establish
and maintain operating procedures as well as integrate the
businesses we have acquired or may acquire into the existing
operations; changes in accounting principles or
policies; material differences between actual and expected
assessments for guaranty funds and mandatory pooling
arrangements; availability and cost to us of reinsurance to
manage our gross and net exposures; the failure of others to
meet their obligations to us; and other factors identified in
our filings with the U.S. Securities and Exchange Commission.
The foregoing review of important factors should not be
construed as exhaustive and should be read in conjunction with
other cautionary statements that are included herein or elsewhere.
All subsequent written and oral forward-looking statements
attributable to us or persons acting on our behalf are expressly
qualified in their entirety by these cautionary statements. We
undertake no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20180313006531/en/
Arch Capital Group Ltd.Mark D. Lyons, 441-278-9250
Arch Capital (NASDAQ:ACGL)
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