DARAG Group has announced the completion of its acquisition of Arisa Assurances, a motor and travel insurance company previously owned by ADAC Versicherung. The transaction was conducted through DARAG’s German risk carrier, DARAG Deutsche Versicherungs- und Rückversicherungs-AG, and has received all requisite regulatory approvals.
Tom Booth, CEO of DARAG, said: “Our local expertise and operational capabilities are paramount to maintaining DARAG’s reputation and leading position in the European legacy market and our business continues to develop in the region as a result. More widely, our global transaction pipeline is extremely strong and we have significant appetite and firepower to continue the profitable growth of our business."
Arisa is DARAG’s first company acquisition in Luxembourg. The insurance portfolio, consisting primarily of motor third party liability business, will subsequently be transferred to DARAG Deutsche Versicherungs- und Rückversicherungs-AG.
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