Darag signs LPT with Soteria Insurance
ReutersMar 26, 2025 12:52 PM
By Michael Jones
March 26 - (The Insurer) - Darag has signed a loss portfolio transfer (LPT) agreement with UK-based insurer Soteria Insurance, the former underwriting business of the Co-operative group.
The LPT will see a portfolio of Soteria-written UK commercial policies in run-off reinsured by Darag Deutschland AG. Subject to regulatory approvals, the LPT is expected to be followed by a Part VII transfer of the same portfolio of policies into Darag Insurance UK.
Other legacy deals agreed by Darag in 2025 include its purchase of a run-off portfolio from Wefox Insurance AG in January.
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