DARAG makes Bermuda acquisition

DARAG Group Ltd. acquired Bermuda-based SunPoint Holdings Ltd., which will be integrated into DARAG Bermuda Ltd. and used as a platform for further expansion.

SunPoint offered reinsurance and runoff solutions to U.S. and Bermuda insurers from 2017 to 2019. Its portfolio consisted of general liability, construction defect, New York labor law and workers' compensation across the U.S.

The acquisition is said to compliment DARAG North America's business and strengthens its claims department. As part of the deal, Amel Esposito will become DARAG North America's head of U.S. claims and service operations.