DARAG bolsters German leadership with new CEO and CFO

European legacy acquirer DARAG Group has appointed Alex Roth as new chief executive officer (CEO) and Peter Klingspor as chief financial officer (CFO) of its German risk carrier DARAG Deutsche Versicherungs- und Rückversicherungs-AG.

Both the executives will be based in Hamburg.

Roth will retain his group-level roles in addition to his position as CEO of DARAG’s German entity. He is also the group chief strategy officer responsible for the group corporate development including strategic planning and implementation as well as overall responsibility for M&A (non-US business).

Roth first joined DARAG’s German entity in 2016 where he has held a series of senior positions. In addition to his group-level roles, he is also an executive director of DARAG’s new Bermudian carrier. Prior to joining DARAG, he worked at EY and a M&A boutique firm in Luxembourg in the field of distressed M&A and restructuring including crisis & turnaround management.

Klingspor most recently served as managing director of PRECIRE Technologies GmbH, a corporate participation of HDI Group. Prior to that, he was at Talanx in a series of senior roles, including head of strategy and group corporate development and CFO of Talanx Deutschland AG. He began his career in 1992 at KPMG where he has been a German Certified Public Accountant and tax advisor.

Tom Booth, CEO of the group, said: “Germany is one of DARAG’s core territories and we have a longstanding and well-regarded presence in the entire German-speaking region. As a world-class provider of legacy and capital relief solutions, we have built an outstanding reputation as a trusted partner in Germany and these two appointments are testimony to our commitment to the market here. Alex and Peter are outstanding individuals who I have no doubt will spearhead DARAG’s continued growth in Germany and the German-speaking countries. I would therefore like to warmly welcome Peter to DARAG and congratulate Alex on his appointment.”

Roth added: “DARAG is an established player in German-speaking markets and we see significant opportunities to grow in the region as carriers look to simplify their operations and optimise their use of capital. As a best-in-class provider, we are well-placed to take advantage of these trends. I look forward to working with Tom and Peter in this next, exciting phase of our growth.”