DARAG Acquires Hawaii Captive in Workers Compensation Transaction

DARAG Group, a legacy acquirer, has finalized the acquisition of a Hawaii captive insurance company. The workers compensation business portfolio, which entered runoff in 2023, will be transferred into an existing DARAG entity domiciled in the United States, ensuring legal finality.

Tom Booth, CEO of DARAG, said, "The North American captive market continues to show interest in tailored legacy solutions, allowing companies or groups to attain conclusive resolutions for their self-insured liabilities."

He continued, "Leveraging DARAG's onshore infrastructure facilitated the efficient completion of this acquisition, further solidifying our leading position in the US self-insured market."

Joel Neal, executive vice president, M&A, at DARAG North America, added, "We also thank the Lockton Alternative Risk Practice for its role as the seller's intermediary, contributing to the successful conclusion of this transaction."