DARAG Group (“DARAG” or “the Group”), a leading legacy acquirer with a focus on the European and UK market, announces that DARAG Deutschland AG has entered into a portfolio transfer agreement with Protector Forsikring ASA (Protector) for its entire workers’ compensation (WC) portfolio in Denmark, allowing Protector to exit fully this line of business.
Subject to approval by the Norwegian and German regulators, the transaction will see a Danish WC portfolio of c. €130m of net liabilities transferred 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.”