DARAG names Tullio Ferrucci as CEO of DARAG Italia
DARAG, a leading European run-off insurance company, today announces the appointment of Tullio Ferrucci as CEO of DARAG Italia, following the acquisition of ERGO Assicurazioni by DARAG in 2016.
Ferrucci was a special board representative of Donau Versicherung AG to the Italian branch of the company, where he was tasked with managing distressed business. He has served in a range of leadership roles in both the insurance and management consultancy sectors, including as Director-General of SACE BT, a start-up insurance company, and commercial director of Euler Hermes’ Rome branch. Ferrucci began his career as a product manager for Henkel, a leading care products manufacturer.
Stuart Davies, Chairman of DARAG, said: “Italy is one of DARAG’s core markets and one in which we see significant growth opportunity. Following our acquisition of ERGO Assicurazioni in 2016, we expect to expand our activity in the country. Tullio’s appointment as Italian CEO is a statement of our intent, with his energy, passion and drive set to support our efforts. I am therefore delighted to welcome Tullio to the DARAG team and look forward to working with him in the future.
DARAG
DARAG is the first German insurance and reinsurance company specialising in the assumption of discontinued business and the provision of capital relief solutions. DARAG Group has its origins in the German DARAG Deutsche Versicherungs- und Rückversicherungs-AG. Since 2009, DARAG has signed 25 run-off transactions from 14 countries with a volume in excess of 700m euros. For more information, please visit www.darag.eu.
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