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ACG New York Women of Leadership - Entrepreneur Series
Barbara Bradley Baekgaard, founder of Vera Bradley (Nasdaq: VRA), is the latest in a series of entrepreneurs highlighted at ACG New York Women of Leadership events. Photo credit: Robert Blumenfeld

Watercooler

GTCR, Hormel, the Riverside Co-CEOs and Others Win M&A Mid-Market Awards
Amid a slow and challenging year for dealmaking, the winners of Mergers & Acquisitions’ 7th Annual M&A Mid-Market Awards outpaced the competition to grow, innovate and lead the middle market

Roundtable

Financial Services Companies Heat Up M&A Market
Speakers from Flexpoint Ford, Genstar Capital, Baird Capital, Madison Capital Funding and Katten Muchin Rosenman discuss the various factors playing a role in M&A activity within the financial services space

Expert's Corner

Pursuing Pharma Manufacturing
The fragmented pharmaceutical manufacturing industry provides plenty of opportunities for private equity investors, says JLL Partners founder Paul Levy

Restructuring: Arch Capital Buys CMG and PMI for $300M

PMI, which owns part of CMG, has been in rehabilitation since 2011

Arch Capital Group Ltd. (Nasdaq: ACGL) will acquire CMG Mortgage Insurance Co., and assets of PMI Mortgage Insurance Co. for about $300 million.

Arch will make the purchase through its subsidiary, Arch U.S. MI, which will buy CMG from current owners PMI Mortgage Insurance Co. and CMFG Life Insurance Co.

PMI has been in rehabilitation under the Arizona Department of Insurance since 2011. Arch  will take over its mortgage-insurance operating platform.

The deal will provide Arch with nationwide mortgage insurance licenses.  The deal is subject to approval from the Arizona receivership court, as well as Fannie Mae and Freddie Mac.

Arch is a Bermuda-based insurance and reinsurance company.

 

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