American International Group, Inc. announced that on December 31, 2016 it successfully completed the sale of United Guaranty Corporation (UGC) to Arch Capital Group Limited (NASDAQ:ACGL). The deal was originally announced in August 2016. “We are pleased to complete the sale of UGC,” said Peter D. Hancock, President and Chief Executive Officer of AIG. “With …
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AIG sells mortgage insurance unit to Arch Capital Group Ltd. for $3.4 billion
Arch Capital Group Ltd. (Arch) has announced that it has entered into a definitive agreement to acquire United Guaranty Corporation (UGC) and AIG United Guaranty Insurance (Asia) Limited from their current owner, American International Group, Inc. (AIG). The combination of Arch’s existing mortgage insurance business with UGC’s established business will create the largest private mortgage …
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