ARAG Group is acquiring DAS UK for an undisclosed sum.
The deal, subject to regulatory approval, will see ARAG Group acquire the UK legal protection insurance business from its current owner, the Germany-based property and casualty insurer ERGO Versicherung.
DAS launched more than 40 years ago and now runs a legal expenses insurance company and a law firm servicing legal expense claims. They are both supported by an administrative services company.
The total gross written premium of DAS Legal Expenses Insurance Company was £129 million in 2022. The ARAG MGA currently running the UK operations of the wider group reported gross written premium under management of £61 million last year.
The UK deal follows ARAG Group’s acquisition of DAS’s branch in Ireland in 2019 and the entirety of ERGO Group’s DAS business in Canada in 2021.
Tony Buss, chief executive officer of ARAG in the UK, commented: “We are excited about the opportunities this intended acquisition offers since we are pursuing a long-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.”