Darag signs LPT and PTA with European carrier
By Navneeta Nandan
May 28 - Legacy specialist Darag Group announced on Wednesday that its German counterpart, Darag Deutschland AG, has completed a loss portfolio transfer (LPT) with a European carrier.
The LPT will be followed by a portfolio transfer (PTA), said Darag, which did not disclose the names of the client (re)insurer.
Tom Booth, CEO of Darag, said in a statement that this transaction is another example of the group’s ability to provide European counterparties with legal, operational and economic solutions for their legacy portfolios.
This is Darag’s fourth deal of 2025, which indicates a record year in terms of deal volume transacted by the group in the European market.
In April, Darag entered into a PTA with Protector Forsikring for its entire workers’ compensation portfolio in Denmark.
The group signed another LPT with a UK-based insurer Soteria Insurance in March.
Earlier this year in January, Darag purchased a run-off portfolio from Wefox Insurance AG.
The group has completed 71 run-off transactions in 22 countries with an excess value of 1.7 billion euros.
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