Arch Insurance North America completes acquisition of Allianz’s U.S. MidCorp and Entertainment Insurance Businesses

Arch Insurance North America, part of Arch Capital Group Ltd., 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 (AGCS) for a $450 million cash consideration. This strategic acquisition is expected to enhance Arch Insurance's product suite, distribution relationships, and expand its presence in the U.S. middle market.