Darag

The agreement is the second service contract the group has taken on.

Till Wagner and Felix Rollin have been named executive board members in Germany.

Pearson has spent two years at the legacy firm.

The deal is expected to close by year end. 

The deal will see Darag manage open claims relating to the runoff of Unipol Re.

The legacy carrier is to buy the captive from a “very large” multinational firm.

Its PE owners have been exploring strategic options since May last year.

CEO Booth said there is “continued interest” in the NA captive market.

Darag’s German outfit completed the transaction to assume expired long-term liability insurance policies from the undisclosed captive.

The seller is facing an uphill struggle convincing its legacy rivals that there is strategic value in the merger deal.

The transactions were written into Darag Bermuda and offer full legal finality for the US workers’ compensation book of the latter and the US workers’ comp and automotive liability books of the former.

In the wake of Enstar's $5.1bn go-private deal, here's our prior deep dive on the firm.