DARAG signs PTA with Protector for Danish workers’ comp portfolio

Legacy acquirer DARAG Group has announced that its German insurance carrier, DARAG Deutschland AG, has entered into a portfolio transfer agreement (PTA) with Protector Forsikring ASA for its entire Danish workers’ compensation portfolio, enabling Protector to fully exit this line of business.

The transaction, subject to regulatory approval in Norway and Germany, will transfer approximately €130 million in net liabilities from Protector to DARAG.

Tom Booth, CEO of DARAG, said, “This agreement with Protector is especially pleasing as it is the 70th transaction in 22 jurisdictions in our 15th year of trading.

“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.

“Our solutions allow clients, as here, to exit legacy portfolios, often through full legal finality, providing operational and/or capital relief.

“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. It is a line of business with which DARAG has significant experience, benefiting from strong local claims handling partners overseen by our own Copenhagen-based senior claims portfolio manager.”

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