Legal expenses insurance and assistance provider ARAG has appointed Peter King (pictured above) as London market account manager, expanding the company’s presence in the city.
King has 35 years of experience in the insurance industry, having worked in account management, underwriting and business development roles for major insurers. His career includes positions at AXA, Aviva, and Travelers, as well as nine years with Allianz, where he spent five years in an international consultancy role in Munich.
After returning to the UK, he held roles at RSA, HSB and Great Lakes and gained experience in the legal expenses sector with Abbey Legal Protection.
In his new role, King will work with MGAs, brokers and underwriting agencies to develop legal protection and assistance solutions tailored to their target markets.
“ARAG has worked hard to build strong relationships in the London market… I know that Peter will only extend that success,” said Matt Warren, ARAG’s head of broker and MGA sales.
King’s appointment follows the recent announcement of David Haynes becoming chief executive officer of ARAG UK Holdings and ARAG Legal Expenses Insurance Company, effective April 1. He will succeed Tony Buss, who is set to retire.
Haynes is a founding member of ARAG UK and has been with the company since its launch in 2006. He most recently served as director of ARAG Legal Expenses Insurance Company.
In a 2023 interview, Haynes said that legal insurance is not an expensive insurance coverage, but it is a critical one, particularly because of the cost and time involved in fighting a legal dispute.
“From my perspective, every business should buy this,” he said during that interview. “It’s a no-brainer because it’s not just about the protection itself, you get access to a wide range of online legal documents, legal advice, access to tax helplines and counselling and a whole array of other services. So, legal insurance is essentially about buying peace of mind.”
The legal insurance market in the UK is expected to see significant growth in the coming years, according to data platform Statista. It is estimated that market size in the region, measured by gross written premium, is set to reach US$2.36 billion this year, with average spending per capita of US$34.56.
The company, which is part of the global ARAG Group, employs more than 5,000 workers in 19 countries and generates revenue and premium income of more than €2.4 billion.
