Arch Insurance acquires Allianz’s US MidCorp and Entertainment insurance businesses – Reinsurance News

Arch Insurance North America, part of Arch Capital Group Ltd., has announced its acquisition of Allianz’s U.S. MidCorp and Entertainment insurance businesses.

This deal follows Arch Insurance obtaining regulatory approval on 25th July.

Almost 500 former Allianz MidCorp and Entertainment employees have joined Arch, ensuring a smooth transition for clients and brokers as Arch expands its middle market services.

Mark Lange, who was previously Arch Insurance North America’s Chief Strategy Officer, will now take on the newly established role of Chief Middle Market Executive. The new Arch MidCorp and Entertainment businesses will report to him.

Matt Shulman, CEO of Arch Insurance North America, expressed enthusiasm about the acquisition, stating, “We are thrilled to welcome these talented individuals to Arch and look forward to earning the trust of their existing clients and distribution partners.”

He continued, “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.”

Lange added, “I’m looking forward to working with this talented and experienced team to help build out Arch’s middle-market platform. One of our guiding principles throughout this transaction has been to emphasise continuity and to maintain a customer-centric mindset, and I know we’re all ready to hit the ground running.”