Darag Group, the international legacy specialist with an office in Bermuda, has signed a service contract with leading Italian insurer, UnipolSai Assicurazioni SpA.

Darag Deutschland AG will be managing and servicing all non-proportional open claims related to the run-off of Unipol Re.

The agreement is Darag’s first outsourced service contract, the company said.

Tom Booth, CEO of Darag, said: “This deal represents an important milestone in the expansion of Darag’s services. It is a natural development of our business model whereby we offer our unique local claims expertise in Europe to strategic clients, in the process generating valuable fee-based revenue.

“This offering adds to our tailor-made solutions for each client, offering pure operational relief or as a precursor to a more traditional legacy solution, whereby we acquire the portfolio as principal.”