ARAG acquires Munich Re’s MGA DAS operations in Canada
The German ARAG Group, a legal expenses insurer (LEI) active in 19 countries, has acquired DAS Legal Protection in Canada, part of the Munich Re/ERGO Group.
Founded in 2010, the Toronto-based company is a Canadian managing general agent specializing in legal expense insurance with premiums under management of around €19.5 million. The product portfolio comprises legal expenses insurance products for families, landlords, condominiums/stratas and small businesses in Canada. The current Canadian staff of DAS will be retained.
"With this acquisition, we are striving to expand and strengthen our existing operations in Canada. The Canadian LEI market offers promising opportunities with sound growth potential. Thus, ARAG advances its successful international expansion strategy," said Dr. Renko Dirksen, speaker of the Management Board of ARAG.
"With the DAS sales network and experienced team, we are complementing our current Canadian activities. It will also allow us to leverage synergies, accelerate growth as well as support economies of scale and scope.”
ARAG recently commenced business operations in Australia and acquired DAS operations in the Republic of Ireland.
The ARAG Group officially launched its Canadian subsidiary, ARAG Services Corporation, in 2016. The Toronto-based company operates as a managing general agent, offering legal expenses insurance products underwritten by HDI Global Specialty.
Barbara Haynes, CEO of ARAG Canada, added: “We will strengthen our presence while keeping up our top-notch service to our customers as well as our excellent relationships with our business partners. After the successful integration of the two teams, we look forward to improving our operations through technology and digital tools - and continuing to develop best-in-class legal expenses insurance products and services, building on the international skills of the ARAG Group."
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk
Editor's picks
Editor's picks
More articles
Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze