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 staff’ compensation enterprise that entered runoff in 2023. It can now shift to an current DARAG entity domiciled in america, offering full authorized closure.
Tom Sales space, CEO of DARAG, emphasised there may be 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, govt vp of M&A at DARAG North America, recommended the corporate on its new achievement.
“Our stable observe report and established relationships enabled us to swiftly navigate by means of the acquisition course of, securing regulatory approvals and fronting service endorsements inside a commendable timeframe,” he mentioned. “We lengthen gratitude to Lockton Different Danger Apply for his or her middleman position in facilitating the profitable conclusion of this transaction.”
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