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DARAG completes first company acquisition in Luxembourg

DARAG completes first company acquisition in Luxembourg
22-12-2020
20-12-2019
DARAG Group, the legacy acquirer, has completed the acquisition of Arisa Assurances, an automobile and travel insurance company previously owned by ADAC Versicherung.
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Legacy Specialist DARAG Completes First Acquisition in Luxembourg

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. ....

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