SOBC DARAG, the joint venture between U.S run-off specialist SOBC and European legacy acquirer DARAG, has announced the significant expansion of its Bermuda and U.S operations with the launch of its new Bermuda office.
The firm’s new Bermuda subsidiary will be fully operational from the 1st of August, 2019 and will offer a full suite of finality solutions to clients, which includes the acquisition of entities in run-off, assumptions, novations, and retrospective reinsurance.
Effective August 1st, Dan Linden joins as Head of SOBC DARAG’s Bermuda office. At the same time, Joel Neal, Ryan Heyrana, and Lucy Foster have also joined the company as Executive Vice President, Vice President, and Financial Controller / Captive Manager, respectively.
Chief Executive Officer (CEO) of DARAG Group, Tom Booth, said: “I am delighted to welcome the new Bermudian team to the SOBC DARAG family. This team brings further expertise and capacity to help grow SOBC DARAG in Bermuda and North America and will benefit from access to our extensive capital resources.”