Arch Insurance North America Acquires Allianz's U.S. MidCorp And Entertainment Insurance Businesses; No Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Arch Insurance North America, a part of Arch Capital Group Ltd. (NASDAQ:ACGL), has completed the acquisition of Allianz's U.S. MidCorp and Entertainment insurance businesses. This acquisition, initially announced on April 5, enhances Arch Insurance's middle market offerings. Nearly 500 former Allianz employees have joined Arch to ensure continuity for clients and brokers.
August 01, 2024 | 12:34 pm
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Arch Insurance North America, part of Arch Capital Group Ltd. (NASDAQ:ACGL), has completed the acquisition of Allianz's U.S. MidCorp and Entertainment insurance businesses. This move is expected to enhance Arch Insurance's middle market offerings and provide continuity for clients and brokers with the addition of nearly 500 former Allianz employees.
The acquisition is likely to positively impact Arch Capital Group Ltd. (ACGL) in the short term by enhancing its middle market offerings and ensuring continuity for clients and brokers. The addition of nearly 500 former Allianz employees will help integrate the new businesses smoothly.
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