European run-off insurance company DARAG has appointed Tullio Ferrucci as CEO of DARAG Italia, following the acquisition of ERGO Assicurazioni.
Ferrucci has served in a range of leadership roles in both the insurance and management consultancy sectors.
The acquisition of ERGO Assicurazioni marked the company’s first transaction in Italy and was part of its European growth strategy.
Stuart Davies, chairman of DARAG, said: "Italy is one of DARAG’s core markets and one in which we see significant growth opportunity. Following our acquisition of ERGO Assicurazioni in 2016, we expect to expand our activity in the country.”
“Tullio Ferrucci’s appointment as Italian CEO is a statement of our intent, with his energy, passion and drive set to support our efforts. I am therefore delighted to welcome Ferrucci to the DARAG team and look forward to working with him in the future."