Darag
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The legacy carrier will use the base to acquire insurance entities in run-off.
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The European legacy specialist, led by CEO Tom Booth, had been considered the frontrunner to take the German book. -
The target is in administration, having entered solvent run-off in 2003.
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The target reinsures African industrial property and engineering projects.
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The legacy carrier will cover the Norwegian insurer’s change of ownership portfolio.
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The legacy carrier has acquired several risk retention groups in recent months.
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The transaction is the first third-party transfer into Darag Italia
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The Milan-based carrier has finalised the agreement, following over a year of exclusive talks.
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The partners are assessing solutions for the remaining Qudos businesses.
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The deal adds four run-off books to the legacy carrier.
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The former Darag CEO claims the method developed by his company will be more cost-efficient than the sale of legacy portfolios practised to date
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The former Aegis London finance director will join in September.
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