News and Deals
News and Deals
Linklaters advised Allianz Direct comprehensively on the cross-border merger of Luxembourg-based iptiQ EMEA P&C S.A. (with branches in various European countries) into Allianz Direct Versicherungs AG. The complex transaction was one of the first cross-border mergers in Luxembourg following the implementation of the Conversion Directive and required the coordination and involvement of six European supervisory authorities.
Allianz Direct is the pan-European online insurer of the Allianz Group. The acquisition of iptiQ EMEA P&C S.A., based in Luxembourg, comprised more than two million insurance policies, over 100 employees and all existing distribution agreements.
The merger strengthens Allianz Direct's position in B2B2C sales, particularly in the core European markets of Germany, Netherlands, Spain and Italy.
"We are delighted to have advised Allianz Direct on this technically complex transaction, which exemplifies the dynamic consolidation in the European digital insurance market. It illustrates how strategic acquisitions and their rapid integration can be leveraged to create scalable digital business models and a strong market presence in the B2B2C sector," says Dr Thomas Broichhausen, Partner and Global Co-Head of Insurance at Linklaters.
Linklaters advised with an international team led by Dr. Thomas Broichhausen (Partner, Corporate/M&A, Munich), Eliane Dejardin Botelho (Partner, Luxembourg, Capital Markets & Banking) and Mirko König (Counsel, Corporate/M&A, Düsseldorf). Other team members were:
Manfred Müller (Partner, Corporate/M&A, Luxembourg), Fabian Schwarzfischer (Associate, Corporate/M&A, Munich), Eugenie Syx (Managing Associate, Corporate/M&A, Luxembourg), Alyssia Mechalikh (Managing Associate, Corporate/M&A, Luxembourg), Maximilian Helfgen (Associate Corporate/M&A, Luxembourg), Cecilia Pelosi (Associate, Corporate/M&A, Mailand), Asmar Isilak (Associate, Corporate/M&A, Amsterdam), Dr. René Döring (Partner, Employment, Frankfurt), Vincent Gerlach (Counsel, Corporate/M&A, Amsterdam), Jill Reijnen Husagic (Managing Associate, Corporate/M&A, Amsterdam), Moira Guitart (Senior Counsel, Employment, Madrid), Federica Barbero (Counsel, Employment, Milan), Colin Laws (Associate, Employment, Frankfurt), Nerea Martinez de Larramendi (Associate, Employment, Madrid), Maddalena Vallino (Associate Employment, Milan), Udo Prinz (Consultant, Capital Markets & Banking, Luxembourg), Samuele Manfredo Pio (Managing Associate, Capital Markets & Banking, Milan), Vanessa Rodrigues (Associate, Capital Markets & Banking, Luxembourg), Juan Ignacio Gomeza (Associate, Capital Markets & Banking, Luxembourg), Pascal Mildahn (Managing Associate, Financial Regulation Group, Frankfurt), Maximilian Reidt (Associate, Financial Regulation Group, Frankfurt), Macarena Sanz Associate, Financial Regulation Group, Madrid), Ignacio Herrezuelo (Associate, Financial Regulation Group, Madrid) and Alexander Zitzl (Managing Associate, Tax, Munich).
Linklaters had most recently advised Allianz Direct on the acquisition of FRIDAY's insurance portfolio in Germany and France.