Legacy acquirer DARAG Insurance Guernsey Limited has signed a sale and purchase agreement to acquire a re/insurance captive based in the Cayman Islands. The unnamed captive has been acquired from a multinational corporate and carries long-tail UK employers’ liability exposure.

Tom Booth, CEO of DARAG, said: “This transaction is further evidence of DARAG’s dominance in the captive legacy space as well as its continued interest in acquiring and managing UK EL exposure. The Group is confident, given the advanced nature of a number of other attractive opportunities in its core European market, that 2024 will deliver excellent growth.”