The German ARAG Group announced March 15 that it has acquired DAS Legal Protection Inc. in Canada, part of the Munich Re / ERGO Group.
Toronto-based DAS Legal Protection is a managing general agent specializing in legal expense insurance (LEI) with premiums under management of about C$29.3 million in 2019. The product portfolio comprises legal expenses insurance products for families, landlords, condominiums / stratas and small businesses in Canada.
ARAG Group says the current Canadian staff of DAS will be retained.
“With this acquisition, we are striving to expand and strengthen our existing operations in Canada,” explains Dr. Renko Dirksen, Speaker of the Management Board of ARAG SE. “With DAS’ sales network and experienced team, we are complementing our current Canadian activities…It will also allow us to leverage synergies, accelerate growth and support economies of scale and scope.”
The ARAG Group officially launched its Canadian subsidiary, ARAG Services Corporation, in 2016. The Toronto-based company operates as managing general agent offering legal expense insurance products underwritten by HDI Global Specialty SE.
The purchase price was not disclosed.
