DARAG signs fourth legacy deal of 2025 with European carrier

Group sees record momentum through cross-border activity and strategic market exits
DARAG signs fourth legacy deal of 2025 with European carrier
INSURANCE NEWS
By Kenneth Araullo
28 May 2025

DARAG Deutschland AG, the German insurance subsidiary of legacy acquirer DARAG Group, has finalised a loss portfolio transfer (LPT) agreement with an undisclosed European insurance carrier.

The LPT is set to be followed by a portfolio transfer agreement (PTA), pending regulatory and procedural steps.

The transaction adds to DARAG’s activity in the European run-off market, where the firm continues to focus on offering exit solutions for legacy liabilities. The company described the deal as a transaction that fits within its target range for size and complexity.

Tom Booth (pictured above), CEO of DARAG, stated that the company's experience with similar deals across Europe positions it to provide comprehensive solutions for legacy portfolios.

“This is the fourth deal to be announced by DARAG since the beginning of 2025, which promises, given the near pipeline alone, to be a record year in terms of deal volume transacted by the Group in the European market,” Booth said in a statement.

The transaction adds to DARAG’s existing portfolio of completed run-off deals. As of early 2025, the company has executed 67 transactions across 21 jurisdictions, representing more than €1.7 billion in total consideration.

Earlier in 2025, DARAG also entered a loss portfolio transfer with Soteria Insurance Ltd., covering a discontinued portfolio of UK commercial insurance policies. That deal marked another step in DARAG’s expansion of its European footprint, particularly in the UK run-off segment.

These developments also follow DARAG’s divestiture of its North American and Bermuda operations to RiverStone Group in December 2024. The move was part of a broader strategic realignment designed to focus on European opportunities, reduce operational complexity, and consolidate resources around the firm’s core markets. The company has since reaffirmed its commitment to scaling its European platform.

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