DARAG Deutschland AG, the German insurance carrier of DARAG Group, has completed a loss portfolio transfer (LPT) with a European carrier.
This deal, the firm stated. Will be followed by a portfolio transfer (PTA) with the carrier.
Tom Booth, CEO of DARAG, commented: “Our track record of successful transactions in Europe makes us the natural choice to provide a high quality and reliable legacy solution.
“This good sized transaction is in the sweet spot for DARAG and is a further demonstration of DARAG’s ability to offer European counterparties with legal, operational, and economic finality for their legacy portfolios.”
This is the DARAG’s fourth deal since 2025 started. This is expected to be a breaking-record year in terms of deal volume transacted by the Group in the European market, Booth stated.
DARAG’s most recent deals include DARAG Deutschland AG’s portfolio transfer agreement (PTA) with Protector Forsikring ASA , signed in April.
This transaction involves the transfer of Protector’s entire Danish workers’ compensation portfolio, a move that will enable it to fully exit this line of business. This results in the transfer of approximately €130 million in net liabilities from Protector to DARAG.
Back in March, DARAG announced it signed a Loss Portfolio Transfer (LPT) agreement with UK-based insurer Soteria Insurance Limited (SIL), formerly the underwriting arm of the Co-operative Group.
Under the agreement, DARAG Deutschland AG is to reinsure a portfolio of UK commercial policies in run-off written by SIL, previously known as CIS General Insurance Limited.
The LPT is expected to be followed by a Part VII transfer of the portfolio to DARAG Insurance UK Limited, subject to regulatory approval.
