ARAG acquires DAS UK
Authored by DAS
The ARAG Group and ERGO Versicherung AG, ERGO Group’s property & casualty insurer in Germany, have signed an agreement regarding the acquisition of D.A.S. UK, ERGO’s legal protection insurance business in the United Kingdom. Since 2006, the ARAG Group runs its UK operations via ARAG plc as Managing General Agent, reporting gross written premium under management of £61 million in 2022. D.A.S. UK started business over 40 years ago and today runs a legal expenses insurance company (D.A.S. Legal Expenses Insurance Company Limited) as well as a law firm servicing legal expense claims (D.A.S. Law Limited), which are both supported by an administrative services company (D.A.S. Services Limited). Total gross written premium of D.A.S. Legal Expenses Insurance Company Limited was £129 million in 2022.
“The international business of the ARAG Group is a substantial part of our strategic positioning. This said, the planned acquisition of D.A.S. UK is a unique opportunity acquiring a complementary UK business and offering new perspectives for our customers and employees alike. Combining the profound knowledge and extraordinary skills of both entities will result in top-notch products and services for the benefit of all customers”, explains Dr. Renko Dirksen, Speaker of the Board of Management of ARAG SE and Non-Executive Director at ARAG plc.
The agreement reached is subject to regulatory approval. Until it is obtained, ARAG plc and D.A.S. UK will continue to operate independently without any changes to business and operations.
“We are excited about the opportunities this intended acquisition offers since we are pursuing a long[1]term strategy, strongly investing in the UK legal expenses insurance segment. We intend to offer a ‘best of breed’ portfolio to deliver even broader and better products as well as services to a wider customer base – always putting our customers and business partners first”, says Tony Buss, Managing Director of ARAG plc.
The ARAG Group previously acquired the operations and business of D.A.S.s UK’s branch in the Republic of Ireland in 2019, as well as the entirety of ERGO Group’s D.A.S. business in Canada in 2021.
Both parties have agreed to maintain confidentiality regarding the purchase price.
