Darag backer Keyhaven keeps stake after enlisting Macquarie to explore saleKeyhaven Capital has shelved plans to divest its stake in legacy specialist Darag following a Macquarie-led process, The Insurer can reveal.
Darag acquires Guernsey reinsurance captiveRun-off specialist and legacy acquirer Darag Group has acquired a Guernsey-based reinsurance captive.
Darag hires Beazley’s Pryde as group chief risk officerRun-off specialist and legacy acquirer Darag has named Andrew Pryde as group chief risk officer, reporting to group CEO Tom Booth.
Darag completes European legacy deals with Sada and Insr NorwayDarag has completed two run-off transactions in Europe, inking deals with French insurer Sada Assurances – a wholly owned subsidiary of German group DEVK Versicherungen – and Oslo-listed Insr.
Darag strikes legacy deal for Cayman reinsurer’s US liability booksLegacy specialist Darag has concluded a novation agreement with a leading Cayman reinsurer to provide finality for its US liability books.
Darag gains licensed paper through acquisition of Texas-based insurerLegacy specialist Darag has entered into a stock purchase agreement and received the relevant regulatory approval for the purchase of a Texas-based insurer in run-off.
Darag agrees LPT with China Taiping InsuranceLegacy specialist Darag Group has signed an agreement for a loss portfolio transfer (LPT) with China Taiping Insurance Group subsidiary China Taiping Insurance UK (CTI), ahead of a Part VII transfer.
Darag appoints Wetzel to supervisory board of its German insurance carrierLegacy specialist Darag Group has appointed Christoph Wetzel to the supervisory board of its German insurance carrier Darag Deutschland AG.
Darag strengthens European risk management unit with Talanx hiresLegacy specialist Darag has bolstered its risk management team with the appointments of Matthias Hahne as head of risk management, Europe, and Martial Hille as senior risk manager.
Darag agrees LPT with Insr NorwayLegacy specialist Darag has signed a loss portfolio transfer (LPT) and a portfolio transfer (PTA) with Oslo Stock Exchange-listed Insr Insurance Group ASA.
Darag names Aspen’s Chhabra as group head of capital managementDarag has appointed Aspen’s Ajay Chhabra as group head of capital management to play a “critical part” in the company’s approach to capital planning and internal capital modelling.
Darag acquires SADA’s French motor bookDarag’s German insurance carrier Darag Deutschland AG has agreed a portfolio transfer for the motor business of French insurer SADA Assurances.
Darag completes sale of non-legacy Italian business to NobisDarag has completed the sale of the active underwriting business within its Italian operations to domestic insurer Nobis Compagnia di Assicurazioni.
Darag adds to North America and London teamsDarag has made a series of hires as it continues to build out its operations on both sides of the Atlantic, adding Alastair Lauder as group chief actuary in London and Ciaran Russell as senior actuary in Bermuda.
Lyft’s LPT with Darag takes offloaded liabilities to $715mnRidesharing company Lyft’s $250mn loss portfolio transfer (LPT) with Darag marks the firm’s latest foray into the run-off market, following a transaction with Enstar last year which saw the Bermudian reinsure $465mn of legacy reserves.
Darag seals LPT with Lyft captiveLegacy specialist Darag has agreed a loss portfolio transfer (LPT) with Lyft captive Pacific Valley Insurance Company (PVIC).
Darag returns to its Northern European heartland with €180mn Protector dealDarag has signed a retrospective quota share reinsurance agreement with Norweigian insurer Protector Forsikring that will see it assume reserves of more than €180mn ($214mn).
Darag confirms takeover of SunPoint from FosunLegacy specialist Darag has confirmed the acquisition of Bermuda run-off vehicle SunPoint, a move revealed by this publication in October 2020.
Darag completes first Luxembourg dealLegacy specialist Darag has completed its acquisition of Luxembourg-based automobile and travel insurance company Arisa Assurances SA (Arisa), first announced in August.
Darag to acquire SunPoint from FosunLegacy specialist Darag is set to acquire the run-off vehicle SunPoint that was previously led by Karl Wall from Fosun, The Insurer can reveal.