Arch Capital Buys Insurance Businesses Written by Fireman's Fund From Allianz

Key TakeawaysArch Capital Group said its Arch Insurance North America division was buying two insurance businesses written by Fireman's Fund Insurance from German insurer Allianz for $450 million.The agreement gives Arch Capital Group Allianz's MidCorp and Entertainment insurance units.The company noted that current employees of the two businesses will be joining Arch Insurance. Shares of Arch Capital Group (ACGL) hit an all-time high Friday after the insurer said its North American unit was purchasing insu ...