Legacy acquirer DARAG Insurance Guernsey Limited (DIGL) has announced it is to acquire a Cayman Islands-based re/insurance captive.
The firm has signed a sale and purchase agreement (SPA) for a re/insurance captive from a very large multinational corporate that possesses long tail UK employers’ liability (EL) exposure.
According to the announcement, DIGL intends to merge with the acquired captive in due course and reinsure the longer tail portion of the portfolio to its core risk carrier in Germany, DARAG Deutschland AG.
