AICI Capital Trust 9% Pfd (fka AICPQ)

[Enterprising Investor]

Acceptance Insurance Company will be sold through a 363 Sale.

Although several parties have expressed an interest in acquiring the subsidiary, SOBC DARAG appears to be the most likely “stalking horse” bidder.

SOBC DARAG is a US-based company specializing in the acquisition of entities with legacy insurance liabilities, including insurance companies, captives and risk retention groups.

SOBC was originally formed as a UK company in 2007 by the current CEO, Stephanie Mocatta. In 2018 SOBC DARAG was formed, bringing together the skills and backing of the DARAG Group.

DARAG recently completed a €260m ($300m) capital raise, with Aleph Capital Partners and Crestview Partners joining current owners Keyhaven Capital Partners as strategic backers of the business.