# DARAG Group

DARAG Group is an Insurance based in London, United Kingdom.

## Overview

- **Organization type:** Insurance
- **Headquarters:** London, United Kingdom
- **Region:** Europe
- **Address:** London, United Kingdom
- **Founded:** 2009
- **Assets under management:** Undisclosed
- **Website:** darag.com
- **LinkedIn:** https://www.linkedin.com/company/darag-group

## Regulatory record

- **Reports private funds:** No

## About

DARAG Group is a Malta-based insurance company with assets valued at approximately $552.97 million. It operates primarily in Europe.

## Sectors

- Insurance

## Offices

- Hamburg, Germany
- Birkirkara, Malta

## People

- Tom Booth — Group Chief Executive Officer

## Questions

### How is DARAG funded, and who are its primary backers?

DARAG is backed by private equity investors. Keyhaven Capital Partners was an early shareholder, and the firm later brought in Aleph Capital Partners and Crestview Partners as major equity investors. Founders Hugues Lepic of Aleph and Richard DeMartini of Crestview both serve on the DARAG board, providing strategic oversight alongside the investment.

### Why did DARAG sell its North American operations to RiverStone in 2024?

The 2024 divestiture to RiverStone Group was a strategic refocusing. DARAG concluded that competing for US and Bermuda legacy deals required a scale and management bandwidth that diluted its core European thesis. The sale allowed the firm to redeploy capital exclusively into European run-off opportunities, where its German and Malta regulated carriers create a structural home-field advantage.

### Who makes investment decisions at DARAG?

Transaction decisions are led by Group CEO and founder Tom Booth, working with a specialized M&A and actuarial team that evaluates legacy portfolios. The board, which includes representatives from Aleph Capital and Crestview, approves material acquisitions. The firm's regulated insurance entities in Germany and Malta maintain their own governance and reserving processes under Solvency II.

### Is DARAG an asset manager or an insurance company?

DARAG operates as both. It is a regulated insurance group with licensed carriers, which distinguishes it from most private equity-backed run-off vehicles. The firm doesn't just advise on or manage run-off — it becomes the legal insurer for the acquired liabilities, holding capital against its own reserves and managing the investment of those float assets internally.

## Related profiles

- [Dara Capital US](https://altss.com/profile/dara-capital-us)
- [Darr Equipment Co. Retirement Plan](https://altss.com/profile/darr-equipment-co-retirement-plan)

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Last updated: 2026-06-03T20:00:00.000Z

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