ARAG is buying the Irish business of DAS
The ARAG Group has acquired the Irish business operations of DAS.
The move is part of the ARAG Group’s pursuit to internationalise its legal insurance business.
It is about to launch operations in the Republic of Ireland.
The two firms reached an agreement this month on the business transfer and retention of present staff.
But the acquisition still awaits approval by the relevant supervisory authorities.
And both parties have agreed to maintain confidentiality regarding the purchase price.
ARAG recently founded entities in Canada and Australia.
Dr. h. c. Paul-Otto Faßbender, chief executive, said: “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,”.
He is also the majority shareholder of the ARAG Group.
What happens next?
The present management team will remain responsible for business operations in Dublin.
The product portfolio offered by DAS includes motor and family legal insurance as well as commercial legal insurance and assistance services.
DAS UK group chief executive, Andrew Burke said: “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.”
“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,” added Adrienne O’Sullivan, chief executive of DAS Ireland.
DAS has twenty years of experience offering legal insurance products for private individuals and commercial enterprises in the Republic of Ireland.
It had a market share of roughly 60% and gross premium income of approximately 6m euros in 2018.
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