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15

AIG Set to Sell Mortgage Guarantor to Arch for $3.4 Billion

By Tony Seruga

Price includes $2.2 billion in cash, plus Arch securities
Arch to maintain North Carolina presence, consolidate overseas

American International Group Inc. agreed to sell mortgage insurer United Guaranty Corp. to Arch Capital Group Ltd. as Chief Executive Officer Peter Hancock works to simplify his company and free up capital to return to shareholders.

The deal is valued at $3.4 billion including $2.2 billion in cash and the rest in Arch securities, New York-based AIG said Monday in a statement. AIG will retain a portion of mortgage-insurance business originated from 2014 through 2016 through a previously disclosed intra-company risk transfer deal…

AIG Set to Sell Mortgage Guarantor to Arch for $3.4 Billion

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