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DARAG to Provide Retrospective Quota Share Reinsurance for Protector Forsikring March 10, 2021 DARAG Group Ltd., the Malta-based legacy acquirer, announced it has signed a retrospective quota share reinsurance agreement with Protector Forsikring ASA, a multinational general insurance company listed on the Oslo Stock Exchange. DARAG’s German risk carrier, DARAG Deutschland AG (DAG), will be the vehicle for the transaction and assume booked reserves in excess of €180 million ($213.9 million). Upon the completion of the transaction, DARAG will provide Protector with reinsurance cover for its workers’ compensation book of business, underwritten in Norway and Denmark. “DARAG has undertaken a major expansion over the past two to three years into new markets but Scandinavia remains a key focus for our European business,” said Tom Booth, group CEO. ....
Legacy Specialist DARAG Completes First Acquisition in Luxembourg December 22, 2020 DARAG Group Ltd., the Malta-based legacy acquirer, announced the completion of its purchase of Arisa Assurances SA, a Luxembourg-based automobile and travel insurance company previously owned by ADAC Versicherung AG. The transaction, announced in August, was conducted through DARAG’s German risk carrier, DARAG Deutsche Versicherungs- und Rückversicherungs-AG, and has received all requisite regulatory approvals. Financial details of the transaction were not disclosed. Arisa is DARAG’s first company acquisition in Luxembourg. The insurance portfolio, consisting primarily of motor third party liability business, will subsequently be transferred to DARAG Deutsche Versicherungs- und Rückversicherungs-AG with effect for its Luxembourg branch which will be established. ....