SOBC DARAG today announced that it has acquired Innovative Physicians Solutions RRG in full, effective 1st July 2019. SOBC DARAG has received Vermont DFS’s approval for the transaction.
Mark Tabler, the current COO of IPS, will transfer to SOBC DARAG after the sale to help with the transition.
Stephanie Mocatta, CEO of SOBC DARAG, said: “This is our second acquisition in Vermont of a risk retention group (“RRG”) in recent months and our fourth overall. We continue to provide market-leading solutions for true finality for members of RRGs and are pleased to be building upon previously completed transactions, including the acquisition of American Safety.
I would also like to welcome Mark Tabler to SOBC DARAG and look forward to working with him to ensure Innovative Physicians Solutions policyholders retain the highest level of service.”
Mark Tabler, COO of IPS said: “The RRG has served its member insureds in a serviceable, respectful and responsible manner over the past 15 years. It was my pleasure to serve as the COO of the RRG. I have full faith and confidence in SOBC DARAG to run out the company in a manner that will be fitting and serviceable to all the members.”
Notes to Editors:
SOBC DARAG Holdings is ultimately owned by DARAG Group investors. SOBC DARAG Holdings, a direct subsidiary of DARAG UK, is the principal vehicle for future US, Bermudian and Caribbean growth and acquisitions.