DARAG today announced the acquisition of SunPoint Holdings Limited (“SunPoint”) in Bermuda. SunPoint will be integrated into DARAG Bermuda Ltd and will provide DARAG Bermuda with a platform for further expansion.
This is DARAG’s first company acquisition in Bermuda since the launch of its Bermuda operation in 2019 and provides the seller with complete economic and legal finality in respect of the business.
SunPoint, offered reinsurance and run-off solutions to US and Bermuda insurers from 2017 to 2019. The portfolio consisted of General Liability, Construction Defect, New York Labor Law, and Workers’ Compensation across the United States.
SunPoint brings a claims operation headed by Amel Esposito, with rich claims experience across various lines of business within the U.S; including, Construction, Medical Malpractice, New York Labor Law, General Liability, Commercial Auto, and Workers Compensation. The acquisition compliments DARAG North America’s business and strengthens its claims department with highly experienced claims professionals. As part of the acquisition, Amel Esposito will assume the role of DARAG North America’s Head of U.S. Claims and Service Operations.