Arch MI U.S. did $3.2 billion in new insurance written, approximately 60% more than the nearly $2 billion done in the same quarter in 2014. Nearly 57% of the third quarter 2015 NIW came from banks and other mortgage originators, up from 50% in the
The remainder of the volume came from credit unions, which had been the main clientele of the mortgage insurer formerly known as CMG Mortgage Insurance prior to its purchase by Arch Capital Group Ltd. of Hamilton, Bermuda.
Arch Capital Group's mortgage segment, which consists of Arch MI as well as its mortgage reinsurance business, had underwriting income of $17.1 million in the third quarter.
This was more than double the $8.1 million underwriting income recorded one year prior.
Looking to differentiate itself in the market even further, on Oct. 19 Arch MI rolled out a