The ARAG Group is set to end the year at the top of a global league table of legal insurers for the first time, after it forecast strong growth in 2021 that will reportedly see income from legal insurance increase to €1.23bn (£1.05bn).
The group previously generated more than €1.15bn (£979m) in gross written premium income from legal insurance in 2020.
The UK business was credited with making a “significant” contribution to the group’s progress, alongside the USA and Scandinavia.
The group now has more than 10 million customers in 19 countries, including the USA, Canada, Australia and across Europe.
Tony Buss, managing director of ARAG in the UK said: “This is a great achievement by the whole ARAG team, and underlines the strength of the global ARAG Group. I am very pleased with the increasing contribution that we in the UK have made to growing the global business.
“We are proud, not so much of becoming the largest legal expenses insurer in the world, which can obviously change, but that the business now provides affordable access to the justice systems in so many different countries around the world, to so many people.”
He added: “This is a testament to ARAG’s policy of pursuing steady, stable growth and we are very pleased that ARAG in the UK has been able to make a significant contribution.”