Legacy acquirer DARAG Group has announced that it has completed the acquisition of two undisclosed North American captive insurance companies.
The first transaction was completed in May, while the second concluded in June.
These deals have been integrated into DARAG Bermuda and provide comprehensive legal finality for the US workers’ compensation book of one company and the US workers’ compensation and automotive liability books of the other, DARAG said in a news release.
“Our team has seen increased interest in North America for bespoke legacy solutions that enable insurers to achieve finality for their non-core books of business,” said Tom Booth, CEO of DARAG. “We are pleased to be able to meet that demand and further develop our relationship with the US self-insured market. These latest transactions demonstrate DARAG’s ongoing commitment to our North American platform.”
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“It has been a busy year for DARAG’s North American platform, and we continue to have a very active pipeline,” said Joel Neal, executive vice president of M&A at DARAG. “These transactions, alongside the many others we have had in North America, demonstrate the growing demand for the solutions DARAG offers in the region.”
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