ARAG Group launches new venture in Canada

ARAG Group, a European insurance group, has launched a new company in Canada, headquartered in Toronto.

The new subsidiary, ARAG Services Corporation, is an approved cover-holder at Lloyd’s, and will initially operate in the three provinces of Ontario, British Columbia and Alberta.

ARAG Service Corporation will develop legal insurance products and manage underwriting, sales and marketing activities in the Canadian market.

It will primarily focus on group policies for private customers and small to mid-sized companies, sold through insurance brokers as well as unions and associations, following the distribution model for legal protection favoured in the UK market.

Peter Talacek has been appointed as CEO. Talacek has over 20 years of experience in the Canadian insurance industry, having previously worked at PRT Risk Consulting Services.

“We will be offering an impressive combination of outstanding products and excellent customer service for the Canadian market,” said Talacek.

“Employment issues, defective goods, and tax matters can be very complicated and costly. We will support our customers by enabling them to assert their rights – regardless of their financial standing.”

Tony Buss, UK boss of ARAG, added: “It has been great supporting the launch of ARAG in Canada, especially as we have just celebrated the 10th anniversary of our own formation in the UK. Canada is a much younger market for legal protection products, so we’re really looking forward to helping Peter and his team to bring the ARAG vision into a new territory.”

Paul-Otto Faßbender, chairman and CEO of ARAG Group, said: “Canada offers us extraordinarily interesting growth prospects, as legal insurance is largely unknown there.

“The international legal insurance business is a major pillar of our business strategy. ARAG recorded 7.7 per cent growth in this segment alone and €511.2 million in premium income last year. ARAG has been successfully engaged in international business operations for 54 years.”