DARAG makes two senior appointments to its German risk carrier

DARAG Group has named Peter Klingspor as chief financial officer of DARAG Deutsche Versicherungs- und Rückversicherungs, its German risk carrier. He will join DARAG on September 1.

DARAG also confirmed Alex Roth has been serving as chief executive of the German group since July 1.  He also serves as the group chief strategy officer responsible for corporate development, including strategic planning and implementation, and M&A outside the US. He retains his group-level roles in addition to his position as chief executive of DARAG’s German entity.

Roth, who reports to Tom Booth, the group chief executive, joined DARAG’s German entity in 2016 where he has held a series of senior positions, and is an executive director of DARAG’s Bermudian carrier. Before joining DARAG he worked at EY and a M&A boutique firm in Luxembourg involved in distressed M&A and restructuring, including crisis and turnaround management.

Klingspor was most recently managing director of PRECIRE Technologies, a corporate participation of HDI Group. Before that he was at Talanx in a series of senior roles, including head of strategy and group corporate development and chief financial officer of Talanx Deutschland. He began his career in 1992 at KPMG where he was a public accountant and tax advisor.

Both men are based in Hamburg.

Booth highlighted Germany as one of DARAG’s core territories, noting its longstanding presence in the German-speaking region. “These two appointments are testimony to our commitment to the market here,” he said.

Roth said: “DARAG is an established player in German-speaking markets and we see significant opportunities to grow in the region as carriers look to simplify their operations and optimise their use of capital.”