SOBC DARAG Acquires New Mexico P&C Insurance Company

SOBC DARAG has acquired New Mexico P&C Insurance Co.

SOBC DARAG has received approvals from New Mexico OSI and Florida OIR for the transaction.

Terms of the deal weren’t disclosed.

SOBC DARAG Holdings is ultimately owned by DARAG Group investors. SOBC DARAG Holdings, a direct subsidiary of DARAG UK, is the principal vehicle for future U.S., Bermudian and Caribbean growth and acquisitions.