Arch to acquire Allianz's U.S. MidCorp & Entertainment insurance businesses for $450M cash

ARCH CAPITAL GROUP LTD.

Purchase price of $450M cash; Arch estimates ~$1.4B capital requirement to support the business.
Acquired businesses wrote $1.7B gross premium in 2023, adding 500 employees.
Transaction builds Arch's U.S. middle-market presence; expected close H2 2024 subject to regulatory approvals.
Arch Insurance North America wrote ~$5.8B gross premium in 2023; double-digit growth 5 consecutive years.

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