ARCH CAPITAL GROUP LTD. (ACGL): M&A transaction — Arch Capital completes $450M acquisition of Allianz's U.S. MidCorp and Entertainment insurance businesses

ARCH CAPITAL GROUP LTD.

Base purchase price $450M, plus assumed liabilities; closed August 1, 2024.
Nearly 500 former Allianz MidCorp and Entertainment employees join Arch.
Mark Lange appointed Chief Middle Market Executive to lead new units.
Deal originally announced April 5, 2024; amendment filed for clarifying changes.
Expands Arch Insurance's middle-market platform and offerings.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

ARCH CAPITAL GROUP LTD. completed an acquisition involving Allianz Global Risks US Insurance Company for $450 million (closed 2024-08-01).

Action: acquisition
Counterparty: Allianz Global Risks US Insurance Company
Consideration: $450 million
Closing: 2024-08-01

Exact text from the filing

consideration for the transactions contemplated by the Master Transaction Agreement, the Company assumed certain liabilities and paid to Seller a base purchase price equal to $450 million, on the terms and subject to the conditions set forth in the Master Transaction Agreement. The material terms of the Master Transaction Agreement were previously reported in Item

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ARCH CAPITAL GROUP LTD. filing history →

Source: SEC EDGAR

accession 0000947484-24-000099

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