Arch Insurance North America, a property, casualty and specialty insurer arm of Arch Capital, agreed to acquire the US MidCorp and Entertainment insurance businesses from Allianz Global Corporate & Specialty, the carrier for large corporate and specialty insurance of Allianz Group, for $450m. “This strategic step for our US business allows us to leverage our strengths in these important market segments, where we have deep expertise in addressing our clients' most complex risks. We are proud of our employees who have served our US MidCorp and Entertainment clients and brokers over the years. We are confident that they will be a strong addition to Arch, ensuring continuity for our partners,” Tracy Ryan, AGCS CEO for North America.