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ARAG UK reports 14th profitable year in a row


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ARAG UK reports 14th profitable year in a row | Insurance Business UK

“We delivered another great result”

Insurance News

Terry Gangcuangco

Legal expenses insurance and assistance provider ARAG UK, part of German group ARAG SE, has announced its financial results for 2023.

In the past financial year, during which the process of integrating acquired business DAS UK into the managing general agent began, ARAG UK posted its 14th successive year in the black. ARAG UK’s profit in 2023 amounted to £0.8 million, an increase from £0.5 million previously.

The company’s gross written premium rose by 8.6% to £66.1 million, largely thanks to the more than 26% growth in the number of commercial before-the-event (BTE) risks insured through the British MGA.

The after-the-event (ATE) unit, meanwhile, also improved while helping policyholders recover more than £0.5 billion in compensation.

“I’m very pleased that we delivered another great result and successfully maintained our ‘business as usual’ while completing the pre-acquisition integration of DAS UK,” managing director Tony Buss (pictured) said.

“Our core, BTE legal expenses and assistance business grew very strongly, particularly for commercial customers, and our ATE book is also performing well.

“ARAG’s overarching commitment to extending access to justice is underscored by the tens of thousands of people we have helped to rebuild their lives, who might otherwise have been left without recourse.

“This is an especially exciting time for ARAG as we continue to explore the huge opportunities that ownership of a law firm and a primary insurer will bring to our growing business.”

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