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Extraordinary success for the ARAG Group in Business Year 2019
Strong growth in premium income for the ARAG Group at 6.6 percent in 2019
4.7 percent premium income gain in Germany well above the market average
Customer base in Germany expanded by 4 percent on balance
Income from all international business up by more than 9 percent
Profit on ordinary activities improved by 70 percent
ARAG expects stable premium income in 2020 in spite of the COVID-19 crisis
The ARAG Group looks back today on the most successful business year in its history. We achieved a marked improvement on the very good results of the preceding years. ARAG is positioned for sustained successs," explained Dr. Paul-Otto Faßbender, Chairman of the Board of Management and majority shareholder of the ARAG Group, at the annual press conference. Due to the COVID-19 pandemic, this year's annual press conference was conducted by telephone.
ARAG Group reported gross written premium income of € 1.76 billion as compared to € 1.65 billion in 2018. That amounts to a gain of € 110 million or 6.6 percent. Consolidated turnover - including revenue from ARAG service companies - came to € 1.79 billion. The underwriting result reached another ten-year high at € 98.5 million. Profit on ordinary activities rose sharply by 70.7 percent to € 119.9 million. With net after-tax income of € 77.5 million, ARAG achieved the best result in its history.
The effects of the COVID-19 pandemic were explained by Dr. Renko Dirksen. He will assume the position of Speaker of the Management Board for ARAG SE effective 4 July 2020. Dr. Paul-Otto Faßbender’s tenure as Chairman of the Management Board of ARAG SE will end as planned on that date.
Further information on the annual press conference can be found below in the press release and in the statement.
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