DARAG appoints Tom Booth as Group CEO to lead global expansion
DARAG, the leading legacy acquirer, today announced that Tom Booth has been appointed DARAG Group CEO, effective 23 July.
Stuart Davies will remain executive chairman until the transition is complete and become non-executive chairman thereafter, working with Booth to coordinate the planned significant expansion of DARAG.
Booth has an impressive track record in the legacy insurance industry. Until recently, he served as group CFO of Randall & Quilter Investment Holdings (“R&Q”) in Bermuda. Over the last few years, Tom has spent a significant amount of time sourcing and executing North American based legacy transactions, building on his previous experience in the UK and Europe. Tom joined R&Q from Numis Securities, where, as corporate finance director, he headed the corporate finance team for the non-life insurance sector.
Stuart Davies said: “DARAG is set on global growth, with several key transactions in core and new markets in recent months. Tom is the ideal candidate to lead this continued expansion. DARAG has an unparalleled level of expertise and is able to provide capital efficient, tailored legacy solutions, no matter the size or complexity of the portfolio.”
Tom Booth added: “DARAG has an outstanding reputation as one of the market-leading providers of legacy solutions. Legacy is a fast-growing market, with excellent revenue potential and a track record of delivering market-beating returns. DARAG’s expert team has deep knowledge and understanding of the global market, and I am honoured to be joining this exciting business as CEO.”
DARAG
DARAG is a leading international insurance and reinsurance company specialising in the assumption of discontinued business and the provision of capital relief solutions. Building on its strong European roots, since 2009 DARAG has signed 26 run-off transactions in 15 countries with a value of in excess of 740m euros. For more information, please visit: www.darag-group.com
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