ARAG

DARAG | August 22, 2018

International insurance and reinsurance company DARAG and U.S.-based acquisition specialist SOBC have formed a joint venture with SOBC DARAG in Delaware to support DARAG’s expansion into the U.S. and Bermuda/Caribbean run-off markets. SOBC DARAG’s first acquisition will be Peachtree Casualty Insurance Co., a Florida domiciled non-standard auto insurer in the run-off. The acquisition of Peachtree is subject to regulatory approval and is expected to close in the third quarter of 2018....

ARAG Canada | December 06, 2018

When a family runs into a legal issue, the fear of racking up high bills for lawyers can keep some from seeking out legal advice and, in the end, often leaves them with even bigger financial burdens. It doesn’t help that Pro Bono Ontario, which offers services that assist people with everything from filling out court forms to providing advice, announced in November that it would be closing two centers at courthouses in Ottawa and Toronto in December because of a lack of funding....

Insurance Business America | May 07, 2019

It’s now officially a done deal between DARAG Group Limited and DONAU Versicherung AG, whose Italian non-life portfolio has been transferred to the legacy acquirer. The transfer was completed after being given the consent of the Italian insurance regulator, Istituto per la Vigilanza sulle Assicurazioni, following the green light for the acquisition from the Austrian financial authority, Finanzmarktaufsicht. As part of the swoop, DONAU’s Italian employees and intermediaries have now c...

PSC Insurance Group | July 29, 2019

ASX-listed PSC Insurance Group has agreed to acquire 100% of the share capital of Lloyd’s and London market broker Paragon International Holdings, for a base consideration of £42.0 million. The acquisition, which is conditional on approval from the UK Financial Conduct Authority, is expected to generate PSC with incremental annual EBITDA of £4.2 million. “The acquisition of Paragon will greatly add to the scale and expertise within our UK businesses and we will enhance ou...