Run-off Acquisition News

DARAG Completes Sale of North American and Bermuda Businesses to RiverStone

DARAG Group, the Malta-based legacy acquirer that focuses on the European market, announced it has completed the sale of its North American and Bermuda business entities to the RiverStone Group, a subsidiary of Fairfax Financial Holdings Ltd. Financial details of …

Legacy Acquirer DARAG to Sell North America, Bermuda Units to Fairfax’s RiverStone

DARAG Group, the Malta-based legacy acquisition company, announced it has agreed to sell its North American and Bermuda business entities to the RiverStone Group, a subsidiary of Fairfax Financial Holdings Ltd. The sale, which is subject to regulatory approvals, is …

Legacy Acquisition Specialist RiverStone Int’l Acquires Catalina Insurance Ireland

RiverStone International, the London-based provider of legacy solutions in the Lloyd’s market, has signed an agreement with members of the Catalina Group to acquire Catalina Insurance Ireland, an Irish insurance company regulated by the Central Bank of Ireland. Financial details …

Legacy Acquistion Specialist Monument Re Explores Strategic Options: Sources

Monument Re, a buyer of European life insurance portfolios, is exploring strategic options after reporting a drop in its capital ratios last year, people familiar with the matter told Reuters. Citigroup and Fenchurch Advisory are working with the company and …

Run-off Specialist Premia Completes Loss Portfolio Transfer With Hiscox

Premia Holdings Ltd., the Bermuda-based run-off specialist, announced that Premia Syndicate 1884 has entered into a loss portfolio transfer agreement with Hiscox Syndicate 33. The portfolio consists of a diverse mix of business underwritten by Syndicate 33 during years of …

Brit Completes $380M Loss Portfolio Transfer With Legacy Specialist RiverStone

Brit Ltd. announced it has completed a loss portfolio transfer (LPT) agreement with RiverStone International. The agreement is for predominantly legacy years of account on certain classes and certain discontinued classes of business underwritten by Brit Syndicate 2987 and is …

DARAG to Provide Retrospective Quota Share Reinsurance for Protector Forsikring

DARAG Group Ltd., the Malta-based legacy acquirer, announced it has signed a retrospective quota share reinsurance agreement with Protector Forsikring ASA, a multinational general insurance company listed on the Oslo Stock Exchange. DARAG’s German risk carrier, DARAG Deutschland AG (DAG), …

Legacy Specialist DARAG Acquires Bermuda-Based SunPoint from Fosun International

DARAG, the Malta-based legacy acquirer, announced the acquisition of SunPoint Holdings Ltd. in Bermuda. SunPoint will be integrated into DARAG Bermuda Ltd and will provide DARAG Bermuda with a platform for further expansion. DARAG purchased SunPoint from Fosun International for …

Premia Holdings Expands Reinsurance Capacity with Formation of Elevation Re

Premia Holdings Ltd. announced the formation of Elevation Re (SPC) Ltd., a sidecar vehicle which will provide collateralized reinsurance support for Premia’s activities in the global P/C run-off market. This arrangement enables Premia to support run-off reinsurance opportunities with additional …

Legacy Specialist DARAG Completes First Acquisition in Luxembourg

DARAG Group Ltd., the Malta-based legacy acquirer, announced the completion of its purchase of Arisa Assurances SA, a Luxembourg-based automobile and travel insurance company previously owned by ADAC Versicherung AG. The transaction, announced in August, was conducted through DARAG’s German …