6 January 2021News

DARAG completes legacy transaction with US retailer

DARAG Group, the legacy acquirer with operations in Bermuda, has concluded a transaction with a major US retailer to provide finality to its legacy workers' compensation liabilities.

The  transaction was conducted through one of DARAG North America’s insurance entities.

Tom Booth, chief executive of DARAG Group, said the transaction demonstrates DARAG’s ambitions in the US market.

“It is more important than ever for companies to focus on their core business and improve operational efficiency,” Booth said. “We believe there will be an increase in such transactions and our team will work closely with our clients to provide effective and advantageous solutions.”

More on this story

19 July 2023   CEO Tom Booth sees increased interest in North America.
6 April 2023   The transaction structure is a renewal of a previous novation agreement.
3 January 2023   It has completed a reinsurance agreement worth some $15m with a large US carrier.