Turnaround likely top of mind as Arch takes on Allianz middle-market business
Rising rates are expected to serve as a boost for Arch as it looks to build on its middle-market presence and tackle underwriting profitability at its impending Allianz acquisitions.
Arch’s Friday $450 million swoop for Allianz’s Fireman’s Fund entertainment and US MidCorp businesses surprised market watchers. The retail-heavy push represents a “new venture” for the specialty-heavy insurer, Meyer Shields, Keefe, Bruyette & Woods managing director, told IBA.
Ramping up to compete with big standard players will likely be key to profitably growing the middle-market business, Shields said.