Arch Insurance completed the acquisition of the US MidCorp and Entertainment insurance businesses from Allianz Global for $450m.

Arch Insurance North America, a property, casualty and specialty insurer arm of Arch Capital, completed the acquisition of 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. “We are thrilled to welcome these talented individuals to Arch and look forward to earning the trust of their existing clients and distribution partners. Under Mark’s leadership, we will continue to drive growth, deliver exceptional value to customers, create opportunities for our new colleagues and Pursue Better Together as a united team,” Matt Shulman, Arch Insurance CEO.