We view mortgage insurance as an important part of Arch Capital Group Ltd.'s group strategy, which has increased in relative importance on close of the acquisition of United Guaranty Corp. In our view, Arch Mortgage Insurance Co. (Arch MI) and United Guaranty Residential Insurance Co. (UGRIC) together will play a key role in executing ACGL's strategy. We are raising our ratings on Arch MI and UGRIC based on their benefitting from implicit group support because we now assess them as strategically important to ACGL. We are also upgrading United Guaranty Mortgage Indemnity Co., but not to the same level as UGRIC, as we assess it as highly strategic to UGRIC because of our view that its relative importance will decline
