SOBC DARAG opens office in Bermuda

SOBC DARAG has opened an office in Bermuda, in a significant expansion of its US and Bermudian operations.

SOBC DARAG’s new Bermudian subsidiary will be fully operational from August 1 and will provide a full suite of finality solutions, including the acquisition of insurance entities in run-off, assumptions, novations and retrospective reinsurance.

Dan Linden joins 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: “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”.