A converter arrangement comprises first and second modular multilevel converters, Each of the modular multilevel converters comprises two converter branches. Each converter branch comprises a plurality of series-connected converter cells. Each converter cell comprises a cell capacitor and semiconductor switches for connecting and disconnecting the cell capacitor to the converter branch. At least two converter branches of the first modular multilevel converter are connected via first branch connection point and at least two converter branches of the second modular multilevel converter are connected via second branch connection point. The multilevel converters are connected in parallel via a phase connection point for connecting the converter arrangement to a load or a power source, wherein the phase connection point is connected via a first inductance with the first branch connection point and/or via a second inductance with the second branch connection point. At least one of the modular multilevel converters comprises a protection system.