ARAG Group completes DAS UK acquisition

Düsseldorf-headquartered ARAG Group has completed its swoop for legal protection insurance business DAS UK from ERGO Versicherung AG.

First announced in July, the now finalised transaction will see the formation of a new executive management committee (EMC) for ARAG UK. The roster will consist of three members from ARAG Plc (the German group’s existing managing general agent in Britain), three from DAS UK, and one from the wider ARAG Group.

Subject to regulatory approval, the following leaders were appointed as members of the EMC:

• Tony Buss – chief executive officer
• Tony Coram – chief operating officer
• Dirk Hock – chief financial officer
• David Haynes – director of underwriting
• Kate Banks – chief people officer
• Jay Prosser – director of BTE (before the event) partnerships
• Andy Talbot – director of ATE (after the event) & broker sales

“This is an important moment for our group as we continue to deliver against our strategy for growth and expansion in key international markets,” Dr. Renko Dirksen, speaker of the board of management of ARAG SE, said in a release. “This now makes the UK our largest operation outside of Germany.

“I am pleased we have been able to establish a balanced EMC for ARAG UK and, while both companies (ARAG Plc and DAS UK) will continue running operations separately for now, we will gradually work towards having both companies operate under the ARAG brand.”

It was noted that, in 2022, ARAG Plc and DAS UK represented a combined gross written premium of approximately £190 million and a joint workforce of around 800 people.

Coram, who was CEO of DAS UK, commented: “This marks the start of a strong new partnership – one underpinned by experience, great people, and a deep understanding of legal insurance. Together we have the opportunity to invest for the long term – in our UK-based products, operations, systems, and employees.”

Meanwhile Buss went on to highlight the benefits of the deal, financial terms of which were not disclosed.

“It will allow us to share knowledge and skills, and to bring new ideas, products, and services to our customers, including further digitalisation of our offering,” he said. “Our many dedicated employees are the key to achieving this as they support our customers every day. I am excited about how this new chapter will encourage even more collaboration and best practice.”

In 2019, ARAG Group snapped up the operations and business of DAS UK’s Irish branch.

What do you think about this story? Share your thoughts in the comments below.