DARAG Group, a prominent legacy acquirer in the European and UK markets, has successfully acquired a run-off portfolio from wefox Insurance AG. This portfolio includes various insurance lines such as Motor Damage, Third Party Liability, and Property business spanning Germany, Italy, and Switzerland. This acquisition aligns with DARAG’s strategy as it enters its 15th year of operations, reinforcing its leadership in the legacy solutions sector.
The transaction is poised to enhance DARAG’s portfolio with the addition of all EEA domiciled business, pending regulatory approval. Tom Booth, CEO of DARAG, highlighted the company’s robust position and local claims management expertise, which have contributed to its success in providing legal finality in the European market.
Concurrently, Peter Huber, CEO of wefox Insurance AG, expressed confidence in DARAG’s capability to finalize the sale of wefox Insurance AG, projected for the first half of 2025. This sale is part of wefox’s strategic refocus on the Swiss market for short- and long-term absence coverage.
For further details on DARAG’s services and past transactions, visit www.darag-group.com. More information about wefox’s initiatives can be found on their platform.