Arch Capital Group Ltd.
Arch Capital Completes Acquisition of Allianz's U.S. MidCorp and Entertainment Insurance Businesses
Summary
Arch Capital Group Ltd. has completed the acquisition of Allianz Global Risks US Insurance Company's U.S. Middle Market Property & Casualty Insurance and U.S. Entertainment Property and Casualty Insurance Business, as previously announced. The transaction was executed under the Master Transaction Agreement, with a base purchase price of $450 million. Nearly 500 former Allianz employees have joined Arch, and the new businesses will report to Mark Lange, who has been appointed Chief Middle Market Executive.
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About Arch Capital Group Ltd.
Arch Capital Group Ltd. is a leading global insurance and reinsurance provider, specializing in a diverse range of insurance products and services. Established to meet the unique needs of clients across the globe, Arch Capital offers insurance and reinsurance solutions in property, casualty, and specialty lines. With its headquarters in Bermuda, the company plays a pivotal role in the finance and insurance sectors, leveraging its robust underwriting expertise and financial strength. Catering to a broad spectrum of industries, Arch Capital serves commercial and individual clients, providing risk management solutions tailored to various industries. Its presence spans multiple continents, ensuring comprehensive support and coverage. Arch Capital Group Ltd.'s strategic growth and responsible risk management have cemented its status as a significant player in the global insurance landscape, offering innovative products that address emerging risks and evolving market demands.
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