Legacy acquirer DARAG Group has announced that its German insurance carrier, DARAG Deutschland AG, has entered into a portfolio transfer agreement (PTA) with Protector Forsikring ASA for its entire Danish workers’ compensation portfolio, enabling Protector to fully exit this line of business.
The transaction, subject to regulatory approval in Norway and Germany, will transfer approximately €130 million in net liabilities 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.
