Arag Results Show Strong Growth

The latest financials from Arag, which show a 6% uptick in Germany;

  • ARAG Group records significant premium growth of 4.8 percent in business year 2020
  • German business grows by 6.1 percent
  • More than 80,000 new customers in the German legal insurance business alone
  • Customer increase underscores importance of legal insurance for consumers in times of crisis
  • Income from international business up by 3.1 percent
  • Record underwriting result with €112.0 million
  • Online business is important growth driver – 8 percent increase in new customers

“Legal insurance is a crisis product. The key figures show: We deliver real added value for our customers and are in control of our business. ARAG is gaining significant new customers and at the same time is operating the business with growing profitability,” explained Dr. Renko Dirksen, Spokesman of the Management Board of ARAG SE at the annual press conference of the ARAG Group.

The ARAG Group increased its gross premium income in 2020 by 4.8 percent from €1.76 billion to €1.85 billion. Consolidated turnover – including revenue from service companies – came to €1.87 billion. The underwriting result again improved significantly by 13.8 percent, reaching a new record level of €112.0 million. Income on ordinary activities was €83.2 million.

Despite the pandemic crisis, the ARAG Group posted significant growth in Germany in 2020. Premium income rose by 6.1 percent exceeding the market average. Growth in international business was rather moderate at 3.1 percent due to the obvious sharp decline in the travel-related Special Service Package business. International legal insurance business, on the other hand, continued to grow with premium growth of 6.8 percent.

At the end of 2020, the ARAG Group had a total of 10.5 million policies in its portfolio.

 

About alastair walker 6187 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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