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Sale of ARAG Lebensversicherungs-AG: ownership control proceedings successfully completed

The ownership control proceedings in connection with the takeover of ARAG Lebensversicherungs-AG by the Frankfurter Leben Group have been successfully completed. This means that Frankfurter Leben can now purchase 92 percent of shares in ARAG Leben from ARAG SE. Once the sale is finalized, ARAG Lebensversicherungs-AG will be renamed and operate as Frankfurt Münchener Lebensversicherung AG.
On 21 September 2016, ARAG SE resolved to restructure its business operations during the low-interest phase and focus henceforth on the property and health insurance business. In support of this new strategy, ARAG initiated the process of exiting the life insurance segment. ARAG Leben holds a portfolio of 322,000 policies and employs roughly 120 people.

“Decisive risks in our portfolio will be reduced through the sale of our life insurance business,” explained Dr. Dr. h. c. Paul-Otto Faßbender, Chairman and CEO of ARAG SE. The Group will now be less sensitive to the volatility of financial markets as it relates to its insurance portfolio and capital investments.

ARAG will continue to offer its customers old-age pension products in the future. However, instead of offering its own products, ARAG will act as a broker for products from cooperating partners. It is only natural for an insurer intent upon providing needs-based guidance and advice for its customers to offer such an essential service.

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