Arag – A new “experiment” begins

The mission of the group leader, who is aiming to chair the AR and independently retain his mandate as CEO of Arag Holding SE, has been flawless. Arag looks at the most successful Gj. back. The bottom line is that the Düsseldorf-based group achieved a very high profit from ordinary activities of EUR 120 million (+ 70.7%). With an annual surplus of EUR 77.5 million, the company achieved its best result to date.

Even if the Corona crisis has thwarted many plans, Manager Faßbender sees no reason to deviate from the schedule. At the beginning of July, Renko Dirksen took over as future spokesman for the board, as was announced almost a year ago (see PLATOW v. May 31, 2019). But instead of a business-as-usual transition, Manager Dirksen and his team are about to be baptized by fire. After all, he has to steer the well-positioned Arag through the corona crisis. Dirksen states that the right time for future visions is not the right time.

The shock caused by the pandemic on the capital markets also affects property and health insurers, but certainly not to the same extent as life insurers. In retrospect, the sale of the life division to the Frankfurter Leben Group in 2016 proved to be an important strategic course for Arag, also in view of the continued low interest rates. Since then, the most important balance sheet indicators have been on the up. Overall, the group achieved in the past fiscal year.

Gross premium income of EUR 1.76 billion (+ 6.6%). Arag has thus more than compensated for the loss of premiums due to life sales – a year earlier than planned. A new era is now beginning for the converted board team. “There is always an opportunity in every crisis,” is Dirksen’s motto. In any case, the experience that is now being gained is very valuable. No one has yet found the philosopher’s stone in this crisis. This applies not only to Arag, but also to all other players.

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