Allianz Commercial has reached a strategic agreement with MGA (Managing General Agent) Reel Media, a 100% subsidiary of Paragon Insurance Holdings, to create a new major partnership in the global entertainment insurance market.
Starting from April 1, 2026, Allianz Commercial’s underwriting activities in the entertainment sector will be managed by Reel Media (subject to final contractual provisions), while still benefiting from the support of Allianz Global Corporate & Specialty SE’s (AGCS) capacity rated AA* and issued under the name AGCS.
This agreement combines Reel Media’s strong technical expertise with Allianz’s portfolio in cinema, production, sports, and events insurance, underwritten outside of the United States.
Therefore, clients and brokers in the entertainment sector working with Allianz will be supported by a dedicated distribution partner.
Existing MGA partnerships will remain in place in Germany and other countries and will also be managed by Reel Media.
Allianz’s Entertainment underwriting team, consisting of 12 people, will be transferred from Allianz Commercial to Reel Media during the contract period.
*Allianz Global Corporate & Specialty SE is rated AA by Standard & Poor’s and A+ by A.M. Best.
