Arch Capital Group acquires McNeil and Co.
In December 2018, Arch Capital Group completed its acquisition of McNeil and Co. Headquartered in Cortland, New York, McNeil provides risk management services and insurance programs to small businesses and will operate as a wholly owned subsidiary of Arch Capital Group. McNeil will benefit from Arch Capital Group’s substantial resources, as the company has approximately $11.2 billion in capital as of the acquisition, while Arch Capital Group will expand its foothold in risk management for small businesses across the United States. The financial terms of the agreement were not disclosed
M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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