DARAG Bermuda completes two captive transactions

Captive insurance legacy provider DARAG Group has concluded two transactions with undisclosed North American captive insurance companies.

The first transaction was completed in May, with the second concluded in June, 2023. The transactions have been written into DARAG Bermuda and offer full legal finality for the US worker’s compensation book of the latter and the US worker’s compensation and automotive liability books of the former.

Tom Booth, CEO of DARAG said: “Our team has seen increased interest in North America for bespoke legacy solutions that enable insurers to achieve finality for their non-core books of business. We are pleased to be able to meet that demand and further develop our relationship with the US self-insured market. These latest transactions demonstrate DARAG’s ongoing commitment to our North American platform.”