Arch’s Global Mortgage Group to buy Westpac unit
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Arch’s Global Mortgage Group to buy Westpac unit

Rachel Dalton
March 18, 2021
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Arch Capital’s mortgage unit has agreed to buy Australian captive lenders’ mortgage insurance provider Westpac Lenders Mortgage Insurance (WLMI).

WLMI had shareholders’ equity of A$285.7mn ($223.35mn) as of 30 September 2020, Arch said.

Westpac added the transaction will be priced at book value on completion in the second half, with additional small fixed annual payments due the seller over...

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