Allianz sells US insurance businesses to Arch Insurance for $450m, focusing on large corporates and specialty insurance.
Allianz sells US insurance businesses to Arch Insurance for $450m, with AGCS unit divesting its business with US mid-size companies and the entertainment industry. Arch Insurance North America estimates its capital requirement to support the business will be around $1.4bn. The deal is expected to free up capital for Allianz, as the company refocuses its US operations on large corporates and specialty insurance.
April 05, 2024
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