DARAG Group (“DARAG”), a leading legacy acquirer, today announces that following a competitive process, its German insurance carrier DARAG Deutschland AG has signed a Loss Portfolio Transfer (“LPT”) followed by a Portfolio Transfer (“PTA”) with Insr Insurance Group ASA (“Insr”), an insurance group listed on the Oslo Stock Exchange (“OSE”)
All of Insr’s remaining insurance business will form part of this proposed transaction. The portfolio consists mainly of motor, property, casualty and workers’ compensation liabilities from both Norwegian and Danish jurisdictions. The deal will see DARAG provide legal finality of all Insr’s insurance liabilities before the end of the 2021, but economic relief as of LPT signing.
