ARAG acquires DAS operations in Canada and continues to pursue its international expansion strategy
The German ARAG Group, a global leader in legal expenses insurance (LEI) and currently active in 19 countries, has acquired DAS Legal Protection Inc. in Canada which is part of the Munich Re / ERGO Group. Founded in 2010, the Toronto-based company is a leading Canadian managing general agent specializing in legal expense insurance with premiums under management of around 19.5 million euros in 2019. 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,” explains Dr. Renko Dirksen, Speaker of the Management Board of ARAG SE. “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”, adds Dr. Renko Dirksen. 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 SE. ARAG Services Corporation has an innovative and comprehensive range of legal expense products and legal services for brokers, underwriting agents and insurers in Canada, targeting businesses, families and landlords alike.
“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”, states Barbara Haynes, CEO of ARAG Canada. “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”, explains Barbara Haynes.
Both parties agreed not to disclose the purchase price.
Tony Buss, Managing Director of ARAG plc in the UK, added “This is great news for the ARAG Group and for the future of legal expenses insurance in Canada. ARAG UK was instrumental in the launch of ARAG in Canada, five years ago, and we are working with our colleagues in Toronto to assist with the IT requirements created by this acquisition and developments for the future.