The ARAG Group is bringing one more continent into its legal expense insurance fold. The company has announced that ARAG Services Australia, a wholly-owned subsidiary of the Group, is partnering with HDI Global Specialty SE – Australia, which will underwrite its legal expense products.
“The Australian legal expense insurance market offers interesting growth opportunities and we are eager to get started on the fifth continent, which is now the 18th country ARAG is active in,” stated Paul-Otto Faßbender, CEO and majority shareholder of the ARAG Group.
ARAG Services Australia was appointed by HDI Global Specialty SE – Australia to act under a delegated authority agreement, permitting it to enter into policies and handle claims for legal expense insurance on HDI’s behalf. Meanwhile, Antoinette von Wendt has been appointed to lead ARAG Services Australia. The new CEO joined ARAG in 2015 and has been working in ARAG’s corporate development department.
The move into Australia reflects the Group’s plans for ongoing international expansion.
“We’re continuously strengthening our international business activities through new strategic opportunities for the ARAG Group as our international legal insurance business accounts for 60% of our total legal insurance revenue. In 2018, we recorded premium growth of 7% in the group’s legal insurance segment from EUR 938.9 million to EUR 1,004.3 million,” said Faßbender.
Mark Fleiser, general manager and head of branch for HDI Global Specialty SE – Australia added: “We are extremely excited to be working with ARAG Services Australia Pty Ltd to bring a new legal expense insurance offering to the Australian market. We recognise the significant value in providing customers with insurance cover during times when they face unanticipated legal expenses.”
