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The Karl Wall-run firm will now have a UK platform through which to pursue future deals.
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The new role for the former head of M&A is a strong signal that plans for a Lloyd’s platform are advancing.
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The business builds its team after securing more than $600mn of backing from Oaktree Capital Management.
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The legacy carrier also appoints Tony Cunningham and Fiona Walden following the departures of Aditya Dutt and Jacques Bonneau from the board.
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The deal on the heels of the purchase of Miller establishes Cinven as a significant non-life insurance-sector investor.
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The landmark transaction with Sentry requires court clearance after gaining the state insurance commissioner’s nod.
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Sources said that the carrier’s equity raise was the more efficient path to securing growth capital.
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Darag will retain run-off operations in the country.
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The legacy carrier is the first to utilise a recently enacted framework in Oklahoma.
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The executive will help the broker expand its legacy market presence.
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The legacy bidder prevails over Enstar, Premia and start-up Marco.
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Sources said the legacy arm of Axa had lost some investor support for the second of its funds used to back legacy acquisitions.