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10.06.2009

ARAG Slovenia celebrates its 5th anniversary

ARAG Slovenia launched business operations at its headquarters in Ljubljana in May 2004. During the past five years, the fully-owned subsidiary of ARAG Austria has established itself as a legal insurance specialist in the Slovenian insurance market and now maintains a portfolio of over 57,000 policies.

“Our entry into the Slovenian market was a logical step forward, as the country has the strongest insurance purchasing power in Central and Eastern Europe – ranking ahead of Hungary and the Czech Republic. Average per capita investments in insurance in Slovenia now amount to 860 EUR. As an international corporate group with nearly 75 years of experience, we were able to apply our know-how with outstanding results,” explains Dr. Johannes Kathan member of the ARAG Group’s Board of Management responsible for international activities. “ARAG Slovenia recorded € 1.5 million in gross premium revenue last year – an increase of roughly 28 percent over 2007. That gives us good reason to look ahead with optimism, since we were the first company to introduce legal insurance products to this market and continue to play a pioneering role in this segment in Slovenia,” adds Dr. Herbert Kittinger, Chairman of the Board of Management of ARAG Austria.

The portfolio of products offered by ARAG Slovenia includes both private and commercial legal insurance, and public institutions, associations and special-interest groups represent a key target group. Some 45 percent of the 211 local governments, the major administrative units in Slovenia, now have legal insurance policies issued by ARAG. Policies are sold through brokers and agencies. Partnerships with other insurance companies which incorporate legal insurance into their own products also play an important role.

“We plan to keep growing in the future as well, and our goal is to enable all citizens of our country to assert their rights – regardless of their financial standing,” says Robert Kalcher, Chairman of the Board of Management of ARAG Slovenia. “We intend to expand our market lead in the legal insurance segment and to achieve progressive growth in premium volume. With that in mind, we are currently focusing on the development of innovative products and services while providing continuous support for our sales partners,” adds Sales Director Marco Vončina.