Legacy acquirer DARAG Group has announced that it has entered into a portfolio transfer agreement (PTA) with Domus Forsikring A/S, for its entire change of ownership (Husejerskifte) and building damage (Byggeskade) portfolio in Denmark.
Pending standard regulatory approvals, the transaction will allow Domus, a Danish property and casualty insurance company, to fully resolve these liabilities, exit the insurance market and ultimately wind up the company.
Tom Booth, CEO of DARAG, commented: “This transaction further demonstrates DARAG’s expertise in helping insurers achieve legal and economic finality.
“We are delighted to partner with Domus on its planned exit from the Danish insurance market and to combine DARAG’s financial strength and run-off expertise with established local claims management capabilities to provide long-term certainty for policyholders, claimants and other stakeholders.”
The deal marks another milestone in DARAG’s continued expansion across the Nordic region, reinforcing its commitment to providing innovative run-off solutions across Europe.
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