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Dutch branch of ARAG Group acquires attractive customer portfolio

As a new cooperating partner to Aegon – one of the world’s leading financial services organizations, providing life insurance, pensions and asset management that is based in The Hague – the Dutch branch of the ARAG Group will acquire a total of 65,000 legal protection insurance policies with a revenue volume of € 13,5 million effective as of the 3rd quarter of 2019. The cooperation agreement covers a term of five years and stipulates that ARAG will provide legal advice and assistance to Aegon customers in the Netherlands.

“Due to the excellent quality of our legal advice and assistance we convinced and won Aegon over as a cooperating partner,” noted Dr. Dr. h.c. Paul-Otto Faßbender, CEO and majority shareholder of the ARAG Group. “This will strengthen both our market position in the Dutch legal protection insurance market and the international business of the ARAG Group”, he adds.

Originally founded in 1962, the Dutch branch of the ARAG Group will be opening a fifth office location in The Hague, in addition to its offices in Leusden, Amsterdam, Rotterdam and Roermond, on 1 July 2019. The company has also agreed to take on 32 employees of SRK Rechtsbijstand, who will continue to serve the portfolio from now on. “This cooperation offers ARAG and Aegon an ideal basis for the further successful expansion of their business. We are very pleased to have the opportunity to provide high-quality advice and support in all legal matters to Aegon policyholders in the Netherlands. We aim to become the best legal ‘problem-solver’ in the Netherlands and achieve outstanding customer-satisfaction and quality of service,” explains Marc van Erven, CEO of ARAG SE – Netherlands.

With more than 600 employees and gross written premiums of EUR 151 million, the Dutch branch of the ARAG Group ranks 3rd in the Dutch legal protection insurance market. The company is among the largest international units of the ARAG Group, which operates successfully in 17 countries – including the USA and Canada. ARAG generates 60 percent of its legal insurance revenue through its international entities. The Group premium income rose by 7 percent to over EUR 1,004.3 million in the legal insurance segment alone in 2018.

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