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DARAG signs portfolio transfer deal to exit Denmark insurance business
The agreement covers Domus Forsikring A/S’s entire Denmark change-of-ownership and building damage portfolios, and is set to resolve the liabilities ahead of Domus winding up.
DARAG Group has entered into a portfolio transfer agreement, or PTA, with Domus Forsikring A/S covering the Danish insurer’s entire change of ownership and building damage portfolios. The deal is structured to let Domus fully resolve its related liabilities, exit the insurance market, and ultimately wind up the company, pending standard regulatory approvals, Reinsurance News reports.
The transaction applies to Domus’s Husejerskifte and Byggeskade portfolios in Denmark. DARAG is positioning the PTA as part of its broader expansion across the Nordic region and its ability to provide run-off solutions for insurers, according to the announcement.
DARAG CEO Tom Booth said the deal reflects DARAG’s expertise in helping insurers achieve legal and economic finality. The company also described the transaction as another milestone in its Nordic growth plan.