03/05/2026
Munich, 5 March, 2026 — Allianz Commercial has entered into a strategic agreement with Managing General Agent (MGA) Reel Media, a wholly owned subsidiary of Paragon Insurance Holdings, to create a new partnership in the global Entertainment insurance market. With effect from April 1, 2026, Allianz Commercial’s Entertainment underwriting business will be managed by Reel Media, subject to final contractual arrangements, while continuing to be supported by Allianz Global Corporate & Specialty SE (AGCS) AA rated* capacity and written on the paper of AGCS.
This partnership brings together the strong technical expertise of Reel Media with Allianz’s portfolio of film, production, events and sports insurance business, underwritten in locations outside the USA. Entertainment customers and brokers working with Allianz will be served by one dedicated distribution partner. Existing MGA partnerships will remain in place in Germany and other locations. Allianz’s Entertainment underwriting team of 12 will transfer from Allianz Commercial to Reel Media over the course of the contractual arrangement.
Vanessa Maxwell, Chief Underwriting Officer at Allianz Commercial, explains the deal: “Entertainment is an attractive and profitable Specialty line of business which we would like to expand. This agreement builds on our longstanding relationship with Reel Media while also maintaining our existing Entertainment MGA partnerships, establishing a very strong combined international market presence.”
Marc Idelson, Chief Executive Officer at Reel Media, says this is a “major milestone” for Paragon and Reel Media: “We’re proud to partner with Allianz Commercial and to welcome their Entertainment underwriting team into our business. Combining Allianz’s international portfolio with our specialty expertise puts us in a strong position to deliver consistent, responsive service and tailored solutions to clients and brokers around the world.”
* Allianz Global Corporate & Specialty SE is rated AA by Standard & Poor’s, and A+ by A.M.Best.