Allianz Commercial has entered into a strategic agreement with the 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 arrangements), while still benefiting from the support of Allianz Global Corporate & Specialty SE (AGCS) with an AA* rating, and issued under the AGCS name.
This agreement combines Reel Media’s strong technical expertise with Allianz’s portfolio in cinema, production, sports, and events insurance underwritten outside 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.
The 12-member Entertainment underwriting team at Allianz will be transferred from Allianz Commercial to Reel Media during the contract period.
*Allianz Global Corporate & Specialty SE has an AA rating from Standard & Poor’s and an A+ rating from A.M. Best.
