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It eyes potential of a market in North America
Legacy acquirer DARAG Group has accomplished the acquisition of a Hawaii-based captive.
The switch includes a portfolio of employees’ compensation enterprise that entered runoff in 2023. It would now shift to an current DARAG entity domiciled in the US, offering full authorized closure.
Tom Sales space, CEO of DARAG, emphasised there’s rising curiosity for bespoke legacy options within the North American captive market.
“There may be continued curiosity within the North American captive marketplace for bespoke legacy options that allow corporations or teams of corporations to realize finality for his or her self-insured liabilities,” he mentioned. “DARAG’s onshore infrastructure enabled us to finish this acquisition successfully and we’re happy to have the ability to consolidate additional our main place throughout the US self-insured market.”
Joel Neal, government vice chairman of M&A at DARAG North America, counseled the corporate on its new achievement.
“Our strong observe file and established relationships enabled us to swiftly navigate by means of the acquisition course of, securing regulatory approvals and fronting provider endorsements inside a commendable timeframe,” he mentioned. “We lengthen gratitude to Lockton Different Threat Observe for his or her middleman position in facilitating the profitable conclusion of this transaction.”
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