Annual business more than doubled at Arch Mortgage Insurance Co. thanks to a huge acquisition. Quarterly business slowed as defaults deteriorated.

In its fourth-quarter 2017 earnings report, its Pembroke, Bermuda-based parent Arch Capital Group LTD revealed income of $259 million before income taxes.

Earnings rose from $83 million in the final-three months of 2016. Arch swung from a loss in the preceding three-month period of $37 million.

Source: Mortgage Daily