DARAG seals dual deals with North American captives
European legacy acquirer DARAG has finalised two transactions with North American captive insurance companies. The move aligns with its increasing focus on providing bespoke legacy solutions in the region and expanding presence in the US self-insured market.
The first transaction was completed in May, with the second concluded in June 2023.
The transactions offer full legal finality for the US worker’s compensation book of the latter and the US worker’s compensation and automotive liability books of the former.
Tom Booth (pictured), CEO of DARAG, said: “Our team has seen increased interest in North America for bespoke legacy solutions that enable insurers to achieve finality for their non-core books of business. We are pleased to be able to meet that demand and further develop our relationship with the US self-insured market. These latest transactions demonstrate DARAG’s ongoing commitment to our North American platform.”
Joel Neal, executive vice president, M&A, DARAG North America, added: “It has been a busy year for DARAG’s North American platform, and we continue to have a very active pipeline. These transactions, alongside the many others we have had in North America, demonstrate the growing demand for the solutions DARAG offers in the region.”
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