BERLIN (Reuters) – Allianz agreed to sell Fireman’s Fund, its U.S. insurance unit for mid-sized corporations and entertainment industry clients, to Arch Insurance for $1.4 billion, the German insurer said on Friday.
The transaction is part of Allianz’s new strategy to focus on large corporate and specialty businesses in the U.S. instead.
(Reporting by Andrey Sychev; editing by Matthias Williams)
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