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DARAG Group ("DARAG" or "the Group"), a leading legacy acquirer, today announced the conclusion of an agreement between an undisclosed Benelux based captive, the captive's policyholder and DARAG's German insurance carrier DARAG Deutschland AG.
The parties have agreed that DARAG shall assume expired long term liability insurance policies. By way of the novation, DARAG will provide full legal, operational, and economic finality for the captive. Completion of this transaction allows the company to cease operations of its captive insurance company. Guy Carpenter acted as broker and sell-side advisor on this transaction.
Tom Booth, CEO of DARAG, said: "DARAG continues to expand its footprint in Benelux and has brought to bear its local claims know-how in...
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