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Chief Risk Officer appointed to the ARAG Board of Management

Dr. Joerg Schwarze (43) has been appointed to the Board of Management by the Board of Supervisors of ARAG Allgemeine Rechtsschutz-Versicherungs-AG. As a member of the Board of Management, he will head the newly established unit Group Risk Management and Group Controlling, which comprises the functions of risk management, corporate and investment controlling. Dr. Joerg Schwarze is presently serving as Director of Risk Governance & Controlling at Dresdner Bank AG.

In creating the new, autonomous department on the Board of Management, the Board of Supervisors affirms the importance of this function within the context of insurer compliance with Solvency II requirements.

“The ARAG Group faces the financial crisis as a sound and robust corporate enterprise. With this new function, we have laid the groundwork for ensuring that this remains true in the future as well,” comments ARAG CEO and majority shareholder Dr. Paul-Otto Faßbender with regard to the Group’s decision to strengthen its Board of Management.

Dr. Joerg Schwarze will assume his new position on the Board of Management of ARAG Allgemeine Rechtsschutz-Versicherungs-AG effective 1 April 2009.