Quarterly business skyrocketed at Arch Mortgage Insurance Co., while earnings strengthened and delinquency improved. The company’s book of business expanded.
From April 1 through June 30, income before income taxes at parent Arch Capital Group Ltd was $280 million, according to its second-quarter earnings report.
Income at the Pembroke, Bermuda-based business exceeded the $233 million earned in the same-three months last year. It was also better than $188 million in the prior quarter.
Source: Mortgage Daily