ARAG ceases operation in Australia

"It's time for us to leave"

ARAG ceases operation in Australia

Insurance News

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ARAG SE, the big German insurer, is withdrawing from the Australian market. A media release from the company headquarters in Düsseldorf said existing policies will continue to be serviced but the firm will not renew policies or take on new business.

“Unfortunately, business expectations in Australia have not materialised,” said Renko Dirksen (main picture), CEO of ARAG SE. “After almost six years, the market has not shown the response we expected. Therefore, it’s time for us to leave.”

ARAG Australia operates from Sydney as an underwriting agency. The business is underwritten by HDI Global Specialty SE.

“We extend our sincere thanks to our Australian colleagues for their efforts, and to our distribution partners, brokers, and legal networks for their ongoing support,” said Dirksen

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