In April, Arch Insurance North America announced its intention to acquire Allianz’s U.S. MidCorp and Entertainment insurance businesses later this year, subject to regulatory approvals. For Arch, this marks a significant investment in the U.S. middle market, and an important next step in expanding Arch Insurance’s presence as a leading U.S. commercial insurer.
With this, I also step into a new role as Chief Middle Market Executive to lead the transition and expansion of the business following the close. I could not be more excited.
While we’re in this period between announcing the deal and closing, we are focused on making the transaction as seamless as possible for existing insureds, distributors and the 500-plus employees that would join Team Arch post-close. Simply put, continuity for all parties is our main priority. Upon the approval and close, we plan for the business to operate with the same underwriters, claim adjusters, forms, producer agreements and systems. We are pursuing this transaction because we like the business.
The $120 billion middle market has been a target growth area for Arch. Our robust specialty product suite has little overlap with the Allianz U.S. MidCorp and Entertainment businesses, and we plan to leverage the existing team and their relationships to “hit the ground running” upon close.
To Arch’s existing distributors, I want to assure you that you’ll continue to receive the same collaborative and responsive service as always. For distributors that might be new to Arch, I’m excited for you to learn about Arch Insurance’s brand promise, Pursuing Better Together. It’s all about listening, building lasting and trusting relationships and then exploring solutions together. This approach leverages the talent and culture of Arch, and we believe it aligns very well with the people who will be joining Arch after the close. This brand promise is a big reason for our growth over the past several years and will be foundational as we begin this next step of our journey.
I find myself filled with enthusiasm at the opportunities that abound as we work to close this transaction and build one of the leading middle-market operations in the industry.
If you would be new to Arch — client, employee or partner — we look forward to welcoming you.