DARAG Group has received High Court approval for the transfer of two insurance portfolios to its UK carrier, DARAG Insurance UK.

The court order, issued on 17 September, approved the transfer of Soteria Insurance’s commercial liability portfolio and the relevant reinsurance business of DARAG Legacy UK to DIUK under the Part VII process. The transfers are expected to take effect on 1 October, subject to the terms of the court-approved scheme.

Once completed, DIUK will assume responsibility for Soteria’s commercial liability insurance portfolio and the transferring reinsurance business currently held by DLUK. The move is part of a wider restructuring of DARAG’s UK operations.

The transfer of Soteria’s portfolio was first announced in 2025, when DARAG agreed a loss portfolio transfer covering the UK commercial insurance business of the former Co-operative Group underwriting arm. The Part VII process represents the final stage in moving the liabilities to DARAG’s UK carrier.

The transfers were subject to supervision by the Prudential Regulation Authority and Financial Conduct Authority. Soteria has confirmed that valid claims will continue to be paid following the transfer and that existing claims-handling arrangements will remain unchanged.