Arch Insurance North America, a division of Arch Capital Group, has completed the acquisition of Allianz assets in the US for $1.4 billion. Announced in April 2024, the deal includes Allianz’s US MidCorp and Entertainment insurance businesses, as well as specific specialty programs from Allianz Global Corporate & Specialty (AGCS).
The acquired assets, previously underwritten through Allianz’s Fireman’s Fund subsidiaries, generated $1.7 billion in gross written premiums in 2023. Nearly 500 employees from Allianz have transitioned to Arch to ensure service continuity. Mark Lange, previously Chief Strategy Officer at Arch, will oversee the integration as the new Chief Middle Market Executive.
Arch Insurance North America CEO Matt Shulman expressed enthusiasm about the acquisition, highlighting the value and growth opportunities it brings. Lange emphasised his commitment to maintaining a customer-centric approach and building out Arch’s middle-market platform.
In related news, Coalition has launched its Active Cyber Insurance in Germany, partnering with Allianz as the capacity provider. The new product will help German businesses detect, mitigate, and respond to cyber threats. It provides access to cybersecurity tools and caters to businesses with up to €1 billion in revenue, without a minimum premium requirement. Allianz continues its partnership with Coalition, supporting cyber insurance programs in the US, UK, and Australia.
