DARAG News

Legacy Acquirer DARAG Completes Portfolio Transfer with Germany’s SOVAG

DARAG Group Ltd., the Malta-based legacy acquirer, announced it has closed the portfolio transfer with German re/insurer SCHWARZMEER UND OSTSEE Versicherungsaktiengesellschaft (SOVAG), following the receipt of all regulatory approvals. The direct insurance and inwards reinsurance business within the legacy portfolio …

Brexit Creates Opportunities for Specialist Legacy Acquisition Insurers

Britain’s impending departure from the European Union is creating expansion opportunities for specialist general insurers who buy and manage policies closed to new customers. Whether Britain leaves the European Union without a deal or under a so-called hard Brexit, British …

DARAG Buys Zurich’s German Architects & Engineers Professional Indemnity Portfolio

DARAG Group Ltd., the Malta-based legacy acquirer, announced it has reached an agreement with Zurich Insurance plc to acquire Zurich’s German architects and engineers (A&E) professional indemnity insurance portfolio. The transaction is subject to relevant regulatory and court approvals, in …

Legacy Acquirer DARAG Signs Portfolio Transfer Agreement with Germany’s SOVAG

DARAG Group Ltd., the Malta-based legacy acquisition firm, announced it has signed a portfolio transfer agreement with German re/insurer Schwarzmeer und Ostsee Versicherungs-Aktiengesellschaft (SOVAG). The legacy portfolio will be transferred to DARAG’s German risk carrier, DARAG Deutsche Versicherungs- und Ruckversicherungs …

Legacy Acquisition Firm DARAG Buys UK Insurer, The Underwriter

DARAG Group Ltd., a Malta-based legacy acquirer, announced the acquisition of The Underwriter Insurance Co. Ltd., a UK-based insurer in run-off. The transaction will be completed through DARAG Deutsche Versicherungs-und Ruckversicherungs-AG, DARAG’s German carrier. The acquisition is subject to regulatory …

Legacy Acquirer DARAG Purchases Book of Run-Off Business from UK’s One Re

DARAG Group Ltd., the Malta-based legacy acquirer, announced it has entered into agreement to buy a book of run-off business from One Re Ltd., a London-based non-life reinsurance company. The transaction will be conducted through DARAG’s German risk carrier, DARAG …

DARAG Enters Retrospective Quota Share Reinsurance Deal with Norway’s Protector

DARAG Group Ltd., the Malta-based legacy acquirer, announced it has entered into a retrospective quota share reinsurance agreement with Protector Forsikring, the Norwegian insurance company. DARAG’s German risk carrier, DARAG Deutsche Versicherungs-und Ruckversicherungs-AG, is the vehicle for the transaction, which …

Legacy Acquirer DARAG Completes Purchase of DONAU Versicherung’s Italian Portfolio

DARAG Group Ltd., the Malta-based legacy acquirer, announced it has completed the acquisition of the Italian non-life portfolio of DONAU Versicherung AG after receiving approval from Austrian and Italian regulators. Financial details of the transaction were not disclosed.The deal was …

Legacy Acquirer DARAG Buys Italian Motor Business from DONAU Versicherung

Legacy Acquirer DARAG Group Ltd. announced it has agreed to purchase a portfolio of Italian non-life business, consisting primarily of motor third party liability from DONAU Versicherung AG. Financial details of the transaction, which is subject to approval by the …

Legacy Acquirer DARAG Taps Booth from Randall & Quilter to Become Group CEO

DARAG, the Malta-based legacy acquirer, announced that Tom Booth has been appointed DARAG group CEO, effective July 23, to lead global expansion. Stuart Davies will remain executive chairman until the transition is complete and become non-executive chairman thereafter, working with …