23 February 2015 Insurance

DARAG makes first Greek acquisition

Run-off insurer DARAG has acquired its first run-off portfolio in Greece, consisting of a portfolio of inactive motor vehicle liabilities from transportation insurer AIGAION.

The Greek insurer has decided to sell parts of its portfolio in preparation for Solvency II.

“By externalising their legacy business, insurance companies can efficiently release equity. The number of transactions in Europe is increasing every year. AIGAION is one of the first insurers in Greece to make use of the advantages offered by selling run-off,” says Arndt Gossmann, chief executive officer of DARAG.

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