It eyes potential of a market in North America
Legacy acquirer DARAG Group has accomplished the acquisition of a Hawaii-based captive.
The switch entails a portfolio of staff’ compensation enterprise that entered runoff in 2023. It is going to now shift to an current DARAG entity domiciled in the US, 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’s continued curiosity within the North American captive marketplace for bespoke legacy options that allow firms or teams of firms to realize finality for his or her self-insured liabilities,” he stated. “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 inside the US self-insured market.”
Joel Neal, govt vp of M&A at DARAG North America, counseled the corporate on its new achievement.
“Our strong monitor document 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 stated. “We lengthen gratitude to Lockton Various Danger Observe for his or her middleman position in facilitating the profitable conclusion of this transaction.”
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