09:34 AM EDT, 04/05/2024 (MT Newswires) -- Arch Capital Group's ( ACGL ) Arch Insurance North America unit said Friday that it has signed a master transaction agreement with Allianz Global Corporate & Specialty to acquire the US MidCorp and Entertainment insurance businesses for $450 million in cash.

The acquisition also includes specific specialty insurance programs, Arch Insurance said, adding that the deal is slated to be completed in H2.

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