Legacy acquirer DARAG Group Limited has completed the acquisition of Arisa Assurances, an automobile and travel insurance company based in Luxembourg.
Arisa, which represents DARAG’s first company acquisition in Luxembourg, was previously owned by ADAC Versicherung AG.
Its insurance portfolio consists primarily of motor third party liability business, and will be transferred to DARAG Deutsche Versicherungs- und Rückversicherungs-AG, which is DARAG’s German risk carrier.
“Our local expertise and operational capabilities are paramount to maintaining DARAG’s reputation and leading position in the European legacy market and our business continues to develop in the region as a result,” said DARAG CEO Tom Booth.
“More widely, our global transaction pipeline is extremely strong and we have significant appetite and firepower to continue the profitable growth of our business.”
Booth added: “The efficient Arisa transaction process is testament to our understanding of the local market and the seamless collaboration between DARAG and the professional teams at ADAC and Arisa.”
