For Immediate Release: December 20, 2016
Largest Mortgage Insurance Company Now in North Carolina
Goodwin welcomes Arch Capital Group, Ltd. to Greensboro
RALEIGH -- Insurance Commissioner Wayne Goodwin signed the order that the North Carolina Department of Insurance has approved the acquisition of the United Guaranty Group by Arch Capital Group, Ltd, on Dec. 19, 2016.
After the acquisition, Arch Capital Group, Ltd., will be the largest mortgage insurance company in the country and will relocate their headquarters to Greensboro.
"I always strive to recruit companies to North Carolina that will encourage growth and I believe Arch Capital Group's choice to invest in the Tar Heel state will benefit everybody," said Goodwin. "This acquisition is great for North Carolina business and I am excited for what promises to be an enormous economic impact."
The North Carolina Department of Insurance Financial Evaluation Division regulates all authorized insurers, managing general agents, accredited reinsurers, for compliance with the solvency laws of the state. The ultimate objective of this regulation is to reduce the likelihood of these entities failing or to mitigate the effect of any of these entities' insolvency on the insurance consumers of North Carolina.