About us
Overview
DARAG is a leading international insurance and reinsurance group specialising in the assumption of discontinued business and the provision of capital relief solutions.
DARAG is a global business, with risk carrying subsidiaries in the EU (Germany, Malta, Italy and Luxembourg), the UK, Bermuda, the US, and Guernsey.
DARAG’s European entities are supervised by a supervisory college chaired by the Malta Financial Services Authority (MFSA) and including the German Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), the Italian Istituto per la Vigilanza sulle Assicurazioni (IVASS) and the Prudential Regulation Authority (PRA).
DARAG Bermuda Limited is a Bermudian reinsurance carrier (3a class insurer) regulated by the Bermuda Monetary Authority (BMA) and is managed separately, though owned by common shareholders, as are the DARAG US subsidiaries and DARAG Insurance Guernsey.
DARAG is led by a management team of recognised insurance executives with extensive experience in legacy and restructuring. DARAG’s multicultural, multilingual and multidisciplinary staff enables the business to deliver tailored solutions to clients across the globe.
DARAG partners benefit from the financial strength of a global, well-capitalised business with a track record of successful transactions. DARAG is funded through equity investment by leading specialist private equity firms Aleph Capital Partners , Crestview Capital Partners and Keyhaven Capital Partners Limited.
Group Structure
Key Facts
Team
- Main offices in UK, Germany, Malta, Bermuda and USA
- Multi-lingual workforce
- Extensive and long experiences with legacy, claims and complexity reduction
Experiences
- >10 years of legacy experience
- > 70 years of insurance industry experience
- 100% deal success rate due to originating also in excellent regulator reputation
- Expertise in various lines of business
Track Record
- 47 closed transactions
- €1.4bn / $1.7bn volume of transactions
- Several hundred m € deal capacity
- Closed transactions in 21 jurisdictions
Deal Scope
- Deal sizes (no minimum threshold, sweet spot €/$ 150 -250m, up to €/$ 750m)
- All non-life lines of business (highly specialised in Motor/Auto, Property, General Liability, Construction Defect, Marine & Inward Reinsurance, Med Mal and Workers Compensation
- High interest in Lloyds business
References
Shareholders
Overview
Crestview
- Crestview is based in New York and manages funds with over $8 billion of aggregate capital commitments with substantial single company investments.
- Crestview’s senior investment professionals primarily focus on sourcing and managing investments in each of the specialty areas of the firm: financial services, media, energy, and industrials.
Aleph
- Aleph Capital Partners LLP is an independent investment firm based in London focusing on capital investments in European-based companies.
- Its approach to capital commitment and governance is tailored to the specific situation of each company it invests in and its capital commitment can reach up to EUR 400 million.
Keyhaven
- Keyhaven Capital Partners is an independent London-based Private Equity investment firm focusing on European businesses.
- Invests with local sponsors or on their own, including direct and equity co-investments, fund restructurings and secondary investments.
Executive
Management
Tom Booth (TBO)
Group Chief Executive Officer
Tom holds a Master’s degree from Cambridge University in the UK and holds an MBA in Finance. He spent the first part of his career in investment banking, specialising in Non-Life Insurance. He joined R&Q in 2008, a company he had helped prepare for its IPO the year prior. Tom spent almost 10 years at R&Q, mostly as Group CFO, working primarily on legacy M&A activity. He has extensive experience of portfolio transfers and insurance company acquisitions across a wide range of markets. During a 5-year period between 2013 and 2018, Tom was located in Bermuda, where he had a particular focus on the US legacy market, completing numerous acquisitions, novations and LPTs of insurance entities.
Tom joined DARAG as Group CEO in July 2018 and has subsequently led the Group’s expansion into the US/BDA as well as the UK and Guernsey, building upon its hitherto Continental European core.
Alexander Roth (ARO)
Chief Executive Officer – Europe
Alexander joined DARAG in February 2016 acting as Group Head of M&A and Group Chief Strategy Officer until March 2021. Alexander is responsible for the European arm of the DARAG insurance group (including the key strategic risk carriers in Germany, Malta, UK and Guernsey) as well as M&A Europe, UK and Lloyd’s.
Prior to joining DARAG, Alexander worked at Duff & Phelps, E&Y and a M&A boutique firm in Luxembourg in the field of Distressed M&A and Restructuring including Crisis & Turnaround Management. He has experience in various management roles in relation to both buying and selling transactions, including origination, structuring, due diligence, valuation, negotiation, execution and operational integration.
Our Acquisitions
103
XY Dollar Corporate Private Equity AUM
38
XY Dollar Available Capital to invest
95
Portfolio Companies
Our Locations
European Risk carriers
DARAG Deutschland AG, Hamburg, Germany (Hermannstraße 15, 20095 Hamburg, Germany)
DARAG Malta Insurance and Reinsurance PCC Limited, Ta’ Xbiex XBX 1026, Malta (Whitehall Mansions, Ta’ Xbiex Seafront, Ta’ Xbiex XBX 1026, Malta)
DARAG Italia S.p.A., Milan, Italy (Viale Isonzo 25, 20135 Milan, Italy)
ARISA Assurances S.A., Luxembourg, Luxembourg (5, rue Eugène Ruppert, Goldbell Center, L-2453 Luxembourg
DARAG Insurance UK Limited, London, UK (25 Eastcheap, 4th Floor, London, England, EC3M 1DT)
DARAG Legacy UK Ltd, London, UK (25 Eastcheap, 4th Floor, London, United Kingdom, EC3M 1DT)
US/BDA Risk carriers
DARAG Bermuda Ltd., The Maxwell Robert’s Building, 5th Floor; One Church Street, Hamilton HM 11, Bermuda
Other offices
DARAG North America (United States), 6 Concourse Parkway, Suite 1460, Sandy Springs, GA 30328
Overview
Key Facts
Shareholders Overview
Executive Management
Our Acquisitions
Our Locations
Need for legacy solutions
Service Offerings
Five Reasons for choosing DARAG
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