Arch MI Expands Scholarship Program to UNCG

Rhea-AI Summary

Arch Mortgage Insurance Company (Arch MI) announced the expansion of its Arch MI Scholars Program to the University of North Carolina Greensboro (UNCG). The program, which began in 2020 with North Carolina A&T State University, provides financial support and job experience to high-achieving students with financial need. Selected students receive a $15,000 scholarship over two years, paid internships during junior and senior years, and the opportunity for a one-year paid fellowship after graduation. The program targets students majoring in fields relevant to insurance, including accounting/finance, actuarial sciences, business information systems, data analytics, risk, IT, and computer science.

Positive

• Program expansion demonstrates company's investment in talent development
• Creates potential pipeline of future employees through internships and fellowships
• Strategic focus on recruiting students in relevant insurance industry fields

Negative

• None.

Arch will provide scholarships, internships and fellowships to the students of the university

GREENSBORO, N.C.--(BUSINESS WIRE)-- Arch Mortgage Insurance Company (Arch MI, the Company) today announced the expansion of its Arch MI Scholars Program to the University of North Carolina Greensboro (UNCG).

This scholarship program is designed to provide financial support and job experience for high-achieving students with demonstrated financial need, and the program is centered around the communities local to the Company’s headquarters in downtown Greensboro, North Carolina.

First announced in 2020, the program began as a partnership with the nation’s largest historically black university, North Carolina A&T State University (N.C. A&T).

“We’ve seen great success with our program at N.C. A&T and are proud to expand to another prestigious local university,” said Michael Schmeiser, President and CEO of Arch MI. “We know that bringing together diverse perspectives leads to better decision-making and idea generation, so it is a business imperative that we continue to foster the growth of the next generation of talent. By providing scholarships, internships and fellowship opportunities for these students, we can help make a difference in leveling the playing field for need-based students within our local community.”

As part of its four-year commitment to UNCG, Arch MI will provide scholarships and real-world job experience to selected students. Chosen in the fall of their junior years, Arch MI scholars will have the opportunity to complete a paid internship with the company during both their junior and senior years. They will also be awarded a $15,000 scholarship, spread over two years, to help fund their remaining studies. Upon graduation, the scholars will have the option to pursue a one-year paid fellowship at Arch MI, with the possibility of converting to a full-time role depending on business needs.

The program focuses on students with majors in fields relevant to the insurance industry. These include accounting/finance, actuarial sciences, business information systems, data analytics, risk, information technology and computer science. At UNCG, these majors are concentrated within the College of Arts & Sciences and the Bryan School of Business & Economics.

“The Arch MI Scholars program at UNCG is a win-win for both the university and Arch MI,” UNCG Chancellor Franklin D. Gilliam, Jr., said. “UNCG’s students offer excellent talent that our region’s corporations value, and this innovative program will help propel many of our students to outstanding careers.”

UNCG students interested in scholarship opportunities should reach out to the Office of Financial Aid and Scholarships.

About Arch MI

Arch MI, a wholly owned subsidiary of Arch Capital Group Ltd., is a leading provider of private insurance covering mortgage credit risk in the U.S. Headquartered in Greensboro, North Carolina, Arch MI's mission is to protect lenders against credit risk, while extending the possibility of responsible home ownership to qualified borrowers. Arch MI’s flagship mortgage insurer, Arch Mortgage Insurance Company, is licensed to write mortgage insurance in all 50 states, the District of Columbia and Puerto Rico. For more information, visit archmi.com.

About Arch Capital Group Ltd.

Arch Capital Group Ltd. (Nasdaq: ACGL) is a publicly listed Bermuda exempted company with approximately $25.0 billion in capital at Sept. 30, 2024. Arch, which is part of the S&P 500 Index, provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.

Cautionary Note Regarding Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward−looking statements. This release or any other written or oral statements made by or on behalf of Arch Capital Group Ltd. and its subsidiaries may include forward−looking statements, which reflect the Company’s current views with respect to future events and financial performance. All statements other than statements of historical fact included in or incorporated by reference in this release are forward−looking statements.

Forward−looking statements can generally be identified by the use of forward−looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or their negative or variations or similar terminology. Forward−looking statements involve the Company’s current assessment of risks and uncertainties. Actual events and results may differ materially from those expressed or implied in these statements. A non-exclusive list of the important factors that could cause actual results to differ materially from those in such forward-looking statements includes the following: adverse general economic and market conditions; increased competition; pricing and policy term trends; fluctuations in the actions of rating agencies and the Company’s ability to maintain and improve its ratings; investment performance; the loss of key personnel; the adequacy of the Company’s loss reserves, severity and/or frequency of losses, greater than expected loss ratios and adverse development on claim and/or claim expense liabilities; greater frequency or severity of unpredictable natural and man-made catastrophic events, including the effect of contagious diseases on our business; the impact of acts of terrorism and acts of war; changes in regulations and/or tax laws in the United States or elsewhere; ability to successfully integrate, establish and maintain operating procedures as well as integrate the businesses the Company has acquired or may acquire into the existing operations; changes in accounting principles or policies; material differences between actual and expected assessments for guaranty funds and mandatory pooling arrangements; availability and cost to the Company of reinsurance to manage our gross and net exposures; the failure of others to meet their obligations to the Company; an incident, disruption in operations or other cyber event caused by cyber attacks, the use of artificial intelligence technologies or other technology on the Company’s systems or those of the Company’s business partners and service providers, which could negatively impact the Company’s business and/or expose the Company to litigation; and other factors identified in our filings with the U.S. Securities and Exchange Commission (SEC).

The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with other cautionary statements that are included herein or elsewhere. All subsequent written and oral forward−looking statements attributable to us or persons acting on the Company’s behalf are expressly qualified in their entirety by these cautionary statements. The Company’s forward-looking statements speak only as of the date of this press release or as of the date they are made, and the Company undertakes no obligation to publicly update or revise any forward−looking statement, whether as a result of new information, future events or otherwise.

Tag: arch-mortgage

View source version on businesswire.com: https://www.businesswire.com/news/home/20241121666726/en/

Media Contact:

Greg Hare

ghare@archgroup.com

Stephanie Perez

stperez@archgroup.com

Source: Arch Capital Group Ltd.

FAQ

What is the value of the Arch MI Scholars Program scholarship at UNCG?

The Arch MI Scholars Program provides a $15,000 scholarship spread over two years to selected students at UNCG.

What career opportunities does Arch MI offer to scholarship recipients?

Recipients receive paid internships during junior and senior years, plus the opportunity for a one-year paid fellowship after graduation with potential conversion to full-time employment.

Which academic majors are eligible for the Arch MI Scholars Program at UNCG?

Eligible majors include accounting/finance, actuarial sciences, business information systems, data analytics, risk, information technology, and computer science.

When did Arch MI first launch its Scholars Program?

The Arch MI Scholars Program was first launched in 2020 at North Carolina A&T State University before expanding to UNCG.