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Arch MI Secures Over $337 Million of Indemnity Reinsurance through Bellemeade Re Insurance-Linked Note Transaction and Related Reinsurance
December 22, 2020 GMT
GREENSBORO, N.C. (BUSINESS WIRE) Dec 22, 2020
Arch Mortgage Insurance Company (Arch MI) announced that it has obtained over $337 million of indemnity reinsurance on a pool representing approximately $33.3 billion of mortgages from Bellemeade Re 2020-4 Ltd., a special purpose reinsurer. The coverage was obtained by issuing approximately $321 million in bonds and $16 million in direct reinsurance. This transaction largely covers the same portfolio of MI policies as Bellemeade Re 2020-1 Ltd., which were issued by Arch MI and affiliates primarily in the second half of 2019.