JDC TECHNICAL EVALUATION REPORT

Subject: DARAG Finalizes Continental Shift Following Record Volume of European Deal Closures

Reference: UID6056

Market Authority: London & International Markets

Case Ref: EU-PIVOT-FIN

Date: 13th April 2026

Status: COMPLETED (Q1 2026)

Case Summary (Tier 4): The pivot is absolute. Following the successful transfer of the Danish Workers’ Compensation portfolio from Protector and a separate LPT exceeding €120M, DARAG has cemented its footprint in the European core. The ledger is now lean, focused, and optimized for 2026 growth

Case Detail (Tier 5):

The Anchor Deal: Completion of the Portfolio Transfer Agreement (PTA) with Protector Forsikring ASA for their Danish Workers’ Compensation book (2012–2025).

Reserve Volume: This deal alone stabilized €120M in reserves.

Operational Finality: DARAG utilized its German carrier (DARAG Deutschland AG) to provide full legal and economic finality.

Efficiency Metric: CEO Tom Booth has signalled that DARAG’s solvency ratio is ending the quarter at a record high, underpinned by a record volume of transacted business.

They are now officially the “Continental King” of European legacy exits.

Additional Comment:

N/A