DARAG poaches new group CEO from R&Q in expansion move

European run-off insurance company DARAG has appointed Tom Booth as its new group CEO.

Until recently, Booth served as group chief financial officer (CFO) of Randall & Quilter Investment Holdings (R&Q) in Bermuda. Over the last few years, he has worked on sourcing and executing North American based legacy transactions, building on his previous experience in the UK and Europe. He joined R&Q from Numis Securities, where, as corporate finance director, he headed the corporate finance team for the non-life insurance sector.

DARAG said that Stuart Davies will remain executive chairman until the transition is complete and become non-executive chairman thereafter, working with Booth to coordinate the planned significant expansion of DARAG.

Davies said: "DARAG is set on global growth, with several key transactions in core and new markets in recent months. Tom is the ideal candidate to lead this continued expansion. DARAG has an unparalleled level of expertise and is able to provide capital efficient, tailored legacy solutions, no matter the size or complexity of the portfolio."

Booth added: “Legacy is a fast-growing market, with excellent revenue potential and a track record of delivering market-beating returns. DARAG’s expert team has deep knowledge and understanding of the global market, and I am honoured to be joining this exciting business as CEO.”

Make sure you are GDPR compliant and  confirm your email address to keep getting our daily emails

More of today's news

Loss-free Florida property flat at June/July renewals 

XL Catlin leads $16.5m funding in maritime risk startup Windward

Ageas gets approval for reinsurance activities in Belgium

Flood Re to reduce 2019 premium

DARAG poaches new group CEO from R&Q in expansion move

Neon launches Nordic-focused marine business in Copenhagen

Brit swoops for Navigators to grow US casualty unit

McLarens expands in Asia with new Malaysian operation

Prudential plans $700m Malaysia IPO

Digit Insurance acquires ITI Reinsurance

Don't miss our insurtech email newsletter - sign up today