The ARAG Group continues to move ahead with the internationalisation of its legal insurance business and is now about to launch operations in the Republic of Ireland. To that end, the family-owned enterprise based in Düsseldorf has agreed to acquire the Irish business operations of DAS Legal Expenses Insurance Company Limited in the Republic of Ireland which is part of the ERGO Group. ARAG and the DAS UK Group reached agreement on the business transfer and retention of the present staff in February 2019. DAS has been offering legal insurance products for private individuals and commercial enterprises in the Republic of Ireland for over 20 years. With a market share of roughly 60 percent and gross premium income of approximately 6 million euros in 2018, the company is the market-leading provider of legal insurance in the Republic of Ireland.
“The Republic of Ireland now becomes the 18th country served by the ARAG Group. We look forward to expanding our reach in Europe and securing promising growth options which is of major strategic interest to us,” explains Dr. Dr. h. c. Paul-Otto Faßbender, CEO and majority shareholder of the ARAG Group. ARAG recently founded entities in Canada and Australia.
The present management team will remain responsible for business operations in Dublin. The product portfolio offered by DAS Legal Expenses Insurance Company Limited’s Irish operations includes motor and family legal insurance as well as commercial legal insurance and assistance services. “This exciting development enables us to continue to strengthen our relationships with our customers and business partners. I am really looking forward to working under the umbrella of the ARAG Group and together with our highly skilled and professional staff I am confident that we will consolidate and expand our market-leading reputation in the Republic of Ireland,” says Adrienne O’Sullivan, CEO DAS Ireland.
DAS UK Group CEO, Andrew Burke commented “This transaction will allow us to concentrate our focus on continuing to improve the outcomes we achieve for our customers and business partners in the UK Market including Northern Ireland. I am delighted our colleagues in Dublin have a positive future under the ownership of ARAG and am confident they will continue to deliver a leading service to their customers.”
The acquisition of DAS Legal Expenses Insurance Company Limited’s Irish Branch still awaits approval by the relevant supervisory authorities for the insurance industry. Both parties have agreed to maintain confidentiality regarding the purchase price.