DARAG appoints former Sompo Canopius CEO as chairman

European run-off insurance company DARAG has appointed Stuart Davies, the former group CEO of Sompo Canopius, as chairman of the group.

Davies succeeds Claus Stenbaek, who will remain on the board as non-executive deputy chairman.

Davies is currently an investment partner at private equity firm Disruptive Capital, a private equity fund investing in disruptive businesses.

He most recently served as group CEO of Sompo Canopius and previously was managing director of AEGIS London. Davies began his career at EY, before proceeding to hold a succession of senior leadership roles in re/insurance.

"DARAG is a market-leading organisation in the field of European non-life run-off business, with unparalleled reach in its core German, French, Italian, Austrian, Scandinavian and Portuguese markets," Davies said.

"With ambitious growth plans and a substantial deal pipeline, DARAG is currently in the process of optimising its management structure, including the appointment of a new CEO, to prepare the company for the next stage in its ongoing expansion. I am therefore delighted to be joining this enterprising company and look forward to working with the DARAG team."

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