Allianz to Buy DAS Switzerland from ERGO

Allianz announced the acquisition of  legal protection subsidiary DAS Switzerland and the legal protection insurance portfolios of DAS Luxembourg and Slovakia from German insurance group ERGO.

With this acquisition, Allianz Suisse will strengthen its competitive position and become one of the three largest providers in the Swiss market for legal expenses insurance. The premium income of the three ERGO subsidiaries in 2016 amounted to around 38 million euros. The transaction is subject to regulatory approval. The parties have agreed to keep confidential the financial details of the transaction.

With a premium volume of around CHF 550 million and a growth rate of 5.3% in 2016 alone, the market for legal expenses insurance in Switzerland is very attractive. With the takeover of DAS Switzerland, Allianz Suisse and its subsidiary CAP play a leading role in the market and underpin their growth ambitions: With an annual premium volume of around CHF 70 million, CAP is currently the no. 4 in the Swiss market for legal expenses insurance, the DAS Switzerland with a premium volume of around 34 million francs, the no. 8.