Latest Results From ARAG; Profits Up, GWP Up

The latest set of results for 2024 from ARAG;

ARAG plc has reported strong, double-digit growth and a significantly increased profit for the 2024 financial year. The achievement marks the market-leading legal expenses insurance and assistance provider’s final result before completing the integration of the DAS UK business, following its acquisition by ARAG SE.

Gross written premium under management increased to £77.8 million (2023: £66.1 million) driven by strong growth in its before-the-event (BTE) commercial and family legal expenses insurance books, insured assistance and after-the-event (ATE) insurance products.

The company generated a profit before tax of £1.8 million in 2024 (2023: £0.8 million) more than double the previous year and well above target, marking ARAG’s 15^th successive year in profit. 

Commenting on the figures, Chief Executive Officer of ARAG UK, David Haynes said:

“This is a superb result, and all the more remarkable for the huge steps we took towards integrating the DAS UK business, last year. That process is almost complete and I’m delighted that we managed to achieve it so smoothly while sustaining ARAG’s profitable growth.”

It doesn’t come as a surprise that commercial legal protection has led the charge, as we’ve long maintained that these products offer huge potential, but continuing to grow ARAG’s presence in this market is particularly impressive, following the stellar growth we saw in 2023.

This success has only been achieved through the professionalism and dedication of all our people, who have worked exceptionally hard to maintain the levels of service our policyholders and business partners have come to expect, while establishing new teams and processes. 

We have now brought everyone together, under one roof, at Trinity Quay in central Bristol, where our business continues to grow, extending access to justice to more and more people and businesses throughout the UK.

The international ARAG Group (ARAG SE) completed the acquisition of DAS UK at the start of January 2024 and integration of the two businesses is now, largely complete.