DARAG Group (“DARAG” or “the Group”), a leading legacy acquirer, today announced that its German insurance carrier, DARAG Deutschland AG, has completed a PTA of Protector’s Danish Workers’ Compensation portfolio written between 2012 and 2025 with reserves of c.€120m.
In addition, just before year end, DARAG completed a separate LPT with reserves of over €120m and signed an agreement to effect a subsequent portfolio transfer. This transaction involves a book of discontinued business written by another major carrier in the EU.
Tom Booth, CEO of DARAG, said: “The completion of the PTA with Protector, a long-standing client, further demonstrates DARAG’s ability to offer European counterparties legal, operational and economic finality for their legacy portfolios. Scandinavia has been a strong growth area for DARAG and a geography where we have longstanding relationships with expert local third-party administrators as well as a highly experienced local claims portfolio manager.
The completion of the other sizeable LPT at the end of December is a fitting end to a strong year of trading for DARAG overall with a record volume of new business transacted by the Group in the European market.”
DARAG has completed two PTAs over the last twelve months, from Liechtenstein and Norway as well as three LPTs to be followed by portfolio transfers, each in a different European jurisdiction.
With the assistance of Howden Re, DARAG also partnered with some specialist reinsurance capital to manage some of its aggregate exposure and to optimise capital allocation.
Booth added: “It is especially pleasing to report that as well as expecting to deliver a good profit for the year, DARAG’s solvency ratio is expected to close at a record high level, underpinning our ability to continue our growth in 2026 and beyond.”