General World News

Old Republic exits mortgage insurance space

Big Four title firm Old Republic is selling its mortgage insurance business to Arch Capital Group Ltd., according to an announcement on Monday.

As part of the $140 million transaction, Arch will acquire all of the capital stock of Old Republic’s wholly owned subsidiary RMIC Companies Inc., and its wholly-owned subsidiaries that together comprise Old Republic’s run-off mortgage insurance business.

The acquisition is still subject to regulatory approval, but it is expected to close during the first half of 2024. Prior to the sale closing, Old details ⇒

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