DARAG Group

In 2009, the German investment firm Augur Capital acquired an insurance company with roots tracing back to 1949 and pivoted its business model to focus exclusively on run-off. This strategic shift marked the beginning of DARAG as a specialist in the legacy insurance market. The concept is simple but powerful: DARAG acquires discontinued books of business from other insurance companies, taking on the responsibility for managing and paying out the remaining claims. This allows the original insurer to free up capital and focus on its active business, while DARAG applies its specialized expertise to manage the old liabilities. A significant chapter in DARAG’s story began in 2018 when a private equity consortium of Aleph Capital and Crestview Partners provided a major equity commitment of €260 million. This investment, made alongside existing shareholder Keyhaven Capital, was designed to fuel the company's global expansion ambitions, particularly into the US market. The new capital injection and the leadership of CEO Tom Booth, appointed in July 2018, positioned DARAG to capitalize on a growing demand for legacy solutions. More recently, DARAG has undergone a strategic realignment. In late 2024, the company completed the sale of its North American and Bermuda operations to RiverStone Group. This move was a deliberate decision to simplify operations and concentrate its resources and expertise on its core European market, where it continues to be a leading player in providing finality for complex insurance liabilities.