05.12.2011
ARAG Rechtsschutz now ARAG SE
ARAG Allgemeine Rechtsschutz-Versicherungs-AG has now completed the process of transformation into a “Societas Europaea” (SE). The new name and legal form have been officially entered at the Court of Registry. Consequently, the operational holding company of the ARAG Group will operate effective immediately under the name “ARAG SE.” Corporate headquarters will remain in Düsseldorf. ARAG plans no changes in its brand identity at this time.
This measure is ARAG’s response to the progressive international expansion of the ARAG Group. Nearly one out of every two ARAG employees now works outside of Germany. International legal insurance has been ARAG’s largest single business segment for several years. The Group is presently represented in Germany and 12 other European countries and the United States.
“ARAG has undergone major changes in recent years. Our aim is to give expression to our international expansion with a legal form that facilitates access to new markets in Europe. And that gives us options for further development,” explains Dr. Paul-Otto Faßbender, Chairman of the ARAG Management Board, with regard to the now completed transformation, adding that “ARAG SE will retain its headquarters in Düsseldorf.”
Through this change, the Düsseldorf family enterprise hopes to bolster its reputation as an internationally active insurer, while enhancing its appeal among European customers. The former name of the enterprise – “ARAG Allgemeine Rechtssschutz-Versicherungs-Aktiengesellschaft” was regarded as overly cumbersome and poorly suited for those purposes. SE status also enables ARAG employees to participate more effectively in the Group’s management organs – at both the national and international levels. A corresponding codetermination agreement was concluded with the European employee representatives in October.
ARAG Aktiengesellschaft, the Group’s holding company, has also been converted into ARAG Holding SE. ARAG Holding SE will remain based in Düsseldorf.
ARAG SE and ARAG Holding SE will also retain the current dual management model consisting of a Management Board and a Supervisory Board.