Arch in $368mn securitisation of mortgage book

Arch Capital has completed a $368mn reinsurance deal to hand on
risk from its mortgage insurance book to capital markets investors.
The Bermudian insurer said today that it had placed the cover
through Bellemeade Re 2017-1, a special purpose vehicle.
Bellemeade Re is a structure Arch inherited from AIG when it
acquired United Guaranty in a $3.4bn deal that completed in
January.
The deal marks the first occasion Arch has sought cover for its
mortgage book via an insurance-linked securities...