DARAG takes on Danish workers comp portfolio

DARAG Group has entered into a portfolio transfer agreement with Protector Forsikring ASA (Protector) for its entire workers’ compensation portfolio in Denmark, allowing Protector to exit fully this line of business.  

DARAG, which specialises in legacy transactions with captive insurers, said subject to regulatory approval, the transaction will see a Danish WC portfolio of about €130 million of net liabilities transferred from Protector to DARAG’s German subsidiary.

“"This agreement with Protector is especially pleasing as it is the 70th transaction in 22 jurisdictions in our 15th year of trading,” said Tom Booth (pictured), DARAG chief executive officer. “It is a fantastic testament to our excellent track record in the European market as well as further evidence of the strong growth the company has achieved since late 2024 post the North American divestiture.

“We are delighted to reach this agreement with Protector, a long-standing client of the company and allow it to exit this line of business fully, subject to customary regulatory approvals and closing conditions.” 

DARAG sold its North American business to the RiverStone Group in 2024 to focus on its European operations.  

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.