02:17 PM EDT, 08/01/2024 (MT Newswires) -- Arch Capital Group's ( ACGL ) Arch Insurance North America unit said Thursday that it completed the acquisition of Allianz's US MidCorp and Entertainment insurance businesses.

The acquisition for $450 million in cash was announced April 5.

About 500 former Allianz MidCorp and Entertainment employees joined Arch to provide continuity for clients and brokers, Arch said.

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