Press release 27 February 2012
The rating agency Standard & Poor’s has given legal protection insurer D.A.S. Rechtsschutz-Versicherungs-AG an A+ rating with a “stable” outlook for the third time in succession. The strategic importance of D.A.S. for Munich Re is highlighted by Standard & Poor’s as a significant element in its justification for the rating. Moreover, D.A.S. Austria has been given an A (“stable”) rating.
Further factors positively influencing the rating are the strong competitive position of D.A.S. as market leader, both in Germany and throughout Europe, and its strong capital position and profitability. Although the German market is saturated and highly competitive, thus offering only limited growth prospects, D.A.S. has nevertheless positioned itself with the expansion of its supplementary products as both a provider of legal services and a legal protection insurer, giving it a greater edge over its competitors. Standard & Poor’s also positively stressed the company’s provision of legal consultancy services, mediation and debt collection services for commercial customers. “We are very interested in helping policyholders benefit from our long-standing expertise. We provide them with specialised lawyers, who offer outstanding customer service in addition to their professional skill”, explained Rainer Tögel, Spokesman for the D.A.S. Board of Management.
As far as international business is concerned, D.A.S. has demonstrated strong growth with moderate profitability for years. This fits in very well with Munich Re’s strategy of expanding the international activities of its primary insurers. D.A.S. also benefits from marketing and cross-selling opportunities within the ERGO Insurance Group.
Thanks to a strong capital position and high level of profitability, D.A.S. Austria has been able to maintain second place on a very competitive market, with a market share of more than 13%.
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D.A.S. is Europe’s No. 1 in legal expenses insurance. Founded in 1928, the company operates today in almost 20 countries in Europe and beyond. The brand D.A.S. stands for the successful introduction of legal protection insurance in various markets. Over twelve million customers place their trust in the D.A.S. brand and its experts when it comes to legal matters. D.A.S. recorded a premium income of € 1 billion in 2010.
D.A.S. is the specialist insurer for legal protection within the ERGO Insurance Group and thus part of Munich Re, one of the world's leading reinsurers and risk carriers.
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This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of ERGO Insurance Group. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forwardlooking statements or to conform them to future events or developments.