NOBIS to acquire the underwriting business of DARAG.

NOBIS, an insurance provider, agreed to acquire the underwriting business of DARAG, a legacy acquirer. Financial terms were not disclosed. “The sale of our active Italian business is an illustration of our singular focus on legacy and our commitment to enhancing DARAG’s operational efficiency. As one of the leading legacy players, with a growing capital base, DARAG continues to expand its global footprint. DARAG will carry on providing a full suite of market leading legacy solutions to the Italian market through its local branch; part of its general strategy to offer bespoke localised solutions, backed with resident expertise," Tom Booth, DARAG CEO.