ARAG withdraws from Australia: The end of an era!

ARAG withdraws from Australia: The end of an era!

ARAG SE's withdrawal from the Australian market marks a significant step for the company. After almost six years, ARAG Services Australia, which brokered legal protection insurance under the MGA model, has ceased operations. The risk carrier, HDI Global Specialty, will continue to manage existing contracts, but no new business will be generated. CEO Dr. Renko Dirksen justifies this step with the lack of market success in Australia. ARAG remains optimistic and is continuing its international growth plans, including a new branch in Helsinki Insurance messenger reported.

Another topic that concerns the German market is the question of retirement provision. According to a current survey by YouGov on behalf of growney, 70.7% of Germans express the desire for new tax-optimized retirement provision options. Households with a net income of over 3,000 euros are particularly interested. Despite the demand, there is currently no state-sponsored retirement savings account, which is prompting financial service providers to demand rapid reforms from the federal government, particularly with regard to the early start pension.

Challenges of retirement provision

Internationally mobile employees face special challenges when it comes to company pension schemes (bAV). The tax treatment of pension plans is not internationally harmonized. The double taxation agreements (DTA) between Germany and other countries contain general regulations on company pension schemes. While the taxation right lies with the country of employment in the vesting phase, this changes to the country of residence in the payment phase. However, there are exceptional cases that apply to managing directors and cross-border commuters EY.

The transfer of pension entitlements is possible provided all parties agree. In addition, there must be no specific labor law regulations for the transfer of company pension schemes between German employers or abroad. At the same time, the need for deferred compensation is highlighted, as employees cannot receive unilateral severance pay for small entitlements within three months of a change of employer into a new employment contract within the EU.

Current insurance trends

Another important aspect is the sharp increase in prices for bicycle insurance. New customers now have to pay up to 780 euros annually. This price increase is due to high amounts of damage; in 2024 the average damage was almost 1,200 euros. Ammerländer Insurance alone recorded over 30,000 claims. If the bike is worth around 1,200 euros, a separate policy is often worthwhile, as household contents insurance often does not offer sufficient protection.

In addition, the VOTUM association expresses criticism of the planned EU label “Finance Europe”, which is seen as a symbolic measure. The association calls for the trialogue to be stopped immediately and for real projects to strengthen Europe's competitiveness.

Finally, the takeover of Wiggermann OHG by Phönix Versicherungsmakler GmbH, which was completed on July 1, 2025, should be mentioned. The owner Dirk Wiggermann and his team will continue to be present for customers and offer them the advantage of a broker who operates throughout Germany. This acquisition is part of Phönix's long-term succession strategy. The nomination phase for the OMGV Award 2025 has also started to honor intermediaries who implement successful digital communication. Applications and nominations are possible until September 7, 2025 in four categories.