DARAG Deutschland AG signed a loss portfolio transfer and portfolio transfer agreement to acquire remaining insurance business from Insr Insurance Group ASA (OB:INSR).

DARAG Deutschland AG signed a loss portfolio transfer (LPT) and portfolio transfer agreement (PTA) to acquire remaining insurance business from Insr Insurance Group ASA (OB:INSR) on August 14, 2021. The portfolio consists mainly of motor, property, casualty and workers' compensation liabilities from both Norwegian and Danish jurisdictions. Insr is ready to hand back the insurance license after completion of these agreements.

The PTA is subject to approval by the Norwegian FSA, Finanstilsynet (“NFSA”) and Bundesanstalt für Finanzdienstleistungsaufsicht(“BaFin”) while the LPT comes into immediate effect. Completion eexpected during second half of 2021. As of January 14, 2022, the transaction has been approved by the Norwegian Financial Supervisory Authority, Finanstilsynet.