SOBC DARAG opens new Bermuda office

SOBC DARAG has announced the launch of its new office in Bermuda in what it described as a significant expansion of its US and Bermudian operations.

SOBC DARAG’s new Bermudian subsidiary became fully operational from August 1.

The company said that its Bermuda team will provide a full suite of finality solutions to clients, including the acquisition of insurance entities in run-off, assumptions, novations and retrospective reinsurance.

Dan Linden joined as head of SOBC DARAG’s Bermuda office, effective August 1. Joel Neal, Ryan Heyrana and Lucy Foster have also joined as executive vice president, vice president and financial controller/ captive manager, respectively.

Tom Booth, CEO at DARAG Group, said: “I am delighted to welcome the new Bermudian team to the SOBC DARAG family. This team brings further expertise and capacity to help grow SOBC DARAG in Bermuda and North America and will benefit from access to our extensive capital resources”.