DARAG forms reinsurance agreement with multi-national insurance company

DARAG, a legacy acquirer, has concluded a loss portfolio transfer between DARAG Insurance Guernsey Limited (DIGL) and a multi-national insurance company with subject reserves in excess of $100 million. DIGL is providing economic and operational finality for the counter-party’s US general liability book of business. TigerRisk served as advisors to both parties in concluding the agreement.

Tom Booth, CEO of DARAG, said: “We continue to expand our geographical footprint, illustrated by the completion of this sizeable US transaction underwritten by DIGL. The portfolio will be managed through service agreements between DIGL and our SOBC DARAG operations in the US. I am delighted to be able to announce our continued growth and success in providing attractive legacy solutions to the market.”