DARAG Group completes Hawaii captive acquisition

Legacy acquirer DARAG Group has accomplished the acquisition of a Hawaii-based captive.

The switch entails a portfolio of employees’ compensation enterprise that entered runoff in 2023. It would now shift to an current DARAG entity domiciled in the USA, offering full authorized closure.

Tom Sales space, CEO of DARAG, emphasised there may be rising curiosity for bespoke legacy options within the North American captive market.

“There may be continued curiosity within the North American captive marketplace for bespoke legacy options that allow firms or teams of firms to attain finality for his or her self-insured liabilities,” he mentioned. “DARAG’s onshore infrastructure enabled us to finish this acquisition successfully and we’re happy to have the ability to consolidate additional our main place throughout the US self-insured market.”

Joel Neal, government vice chairman of M&A at DARAG North America, recommended the corporate on its new achievement.

“Our strong monitor file and established relationships enabled us to swiftly navigate by the acquisition course of, securing regulatory approvals and fronting service endorsements inside a commendable timeframe,” he mentioned. “We lengthen gratitude to Lockton Various Threat Observe for his or her middleman position in facilitating the profitable conclusion of this transaction.”

Have any ideas about this story? Go away a remark beneath.