Bristol insurance firm acquired by German multi-national

Bristol insurance firm DAS has new owners after a deal was agreed between two insurance giants.

The ARAG Group has agreed buy the UK insurance business from German firm ERGO Versicherung AG.

Since 2006, the ARAG Group has runs its UK operations via ARAG as managing general agent, reporting gross written premium under management of £61m.

DAS  started business over 40 years ago and today runs a legal expenses insurance company as well as a law firm servicing legal expense claims.

Both are supported by an administrative services company.

Dr Renko Dirksen, who is a member of the board of management of ARAG and a non-executive director at the firm, said: “The international business of the ARAG Group is a substantial part of our strategic positioning.

“This said, the planned acquisition of DAS UK is a unique opportunity acquiring a complementary UK business and offering new perspectives for our customers and employees alike.

“Combining the profound knowledge and extraordinary skills of both entities will result in top-notch products and services for the benefit of all customers.”

The agreement is subject to regulatory approval.

Until approval is obtained, ARAG and DAS will continue to operate independently without any changes to business and operations.

Tony Buss, managing director of ARAG, said:  “We are excited about the opportunities this intended acquisition offers since we are pursuing a long term strategy, strongly investing in the UK legal expenses insurance segment.

“We intend to offer a ‘best of breed’ portfolio to deliver even broader and better products as well as services to a wider customer base – always putting our customers and business partners first.”

The ARAG Group previously acquired the operations and business of DAS’s UK branch in the Republic of Ireland in 2019, as well as the entirety of ERGO Group’s DAS business in Canada in 2021.

Both parties have agreed to maintain confidentiality regarding the purchase price.