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."
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