Following the firming up of the Solvency II initiation date, placing business into run-off has become more important than ever to insurers. DARAG’s CEO, Arndt Gossmann, talks to Intelligent Insurer about the company’s recent acquisition by Keyhaven and how this will help the company to double its business by the end of the year.
You were recently acquired by Keyhaven Capital Partners. What impact has this had on DARAG?
Keyhaven is an independent investment firm that invests in European businesses. Its investors comprise leading pension funds. By completing the takeover we finally have a situation with an aligned set of interests between our shareholders, its investors and our company. Pension funds have a long-term perspective on their investments—they want to invest into growing niches. Our business is such a long-term opportunity. Having a strong partner such as Keyhaven behind us has increased our ability to make bigger acquisitions in the future. We are looking at portfolios in the three-digit range today.
How does 2014 compare to 2013 in terms of run-off activity?
DARAG, Arndt Gossmann, run-off