Arch Capital North America to acquire Allianz’s U.S. Midcorp and Entertianment

Arch Insurance North America, part of Arch Capital Group, announces it has entered into a master transaction agreement to acquire the U.S. MidCorp and Entertainment insurance businesses, including select specialty insurance programs, from Allianz Global Corporate & Specialty SE for a $450 million cash consideration to Allianz. Arch estimates its capital requirement to support the business will be approximately $1.4 billion. “The acquisition of the MidCorp business meaningfully expands our presence in the U.S. middle market, a targeted growth area for Arch,” said Matt Shulman, CEO for Arch Insurance North America. “This transaction will enhance our distribution relationships, broaden our product suite and expand our ability to participate in these underwriting-intensive middle-market lines. We are also excited to add a market-leading Entertainment business that complements Arch Insurance’s existing portfolio of specialty products.”