News and Deals
Linklaters advises Allianz on expansion of strategic global cyber insurance partnership with Coalition
Press Contact
Jörg Overbeck
PR/Communications Lead
+49 1726907510
joerg.overbeck@linklaters.com
News and Deals
Press Contact
Jörg Overbeck
PR/Communications Lead
+49 1726907510
joerg.overbeck@linklaters.com
Linklaters advises Allianz on the transformative, strategic agreement under which Allianz will transition its commercial cyber insurance business to Coalition. The agreement establishes Coalition as Allianz’s exclusive global partner for cyber insurance across all commercial segments.
Coalition is a remote-first company with employees supporting over 100,000 policyholders worldwide. Upon completion, Coalition will take primary responsibility for pricing, product development, risk mitigation, and claims management for Allianz’s standalone commercial cyber portfolio, supported by Allianz resources for multinational and large corporate underwriting, service delivery, and claims. Allianz will also provide long-term insurance capacity to Coalition and access to its extensive distribution channels.
Allianz will receive a combination of upfront consideration through increased equity in Coalition and performance-based elements linked to the growth and profitability of the cyber business, as well as committing to further equity investment into Coalition.
An international cross-practice Linklaters team led by Frankfurt TMT Partner Daniel Pauly and Global Co-Head of Insurance, Thomas Broichhausen (Partner, Corporate/M&A, Munich) advised Allianz on this complex, global transaction. The team included lawyers in over 20 countries worldwide. Other core team members were Partners Matthew Devey and René Döring (Employment, Frankfurt), Andreas Schaflitzl (Tax, Munich), Andreas Steck (Regulatory, Frankfurt) and Christoph Barth (Antitrust and Foreign Investment), Counsel Yukiko Hitzelberger-Kijima (Emploment, Düsseldorf), Anna-Katharina Lohbeck (TMT, Frankfurt) and Pascal Mildahn (Regulatory, Frankfurt), Managing Associates Alexander Zitzl (Tax, Munich), Lena Mischau (TMT, Frankfurt), Maximilian Reidt (Regulatory, Frankfurt) and Ludwig Stimpel (M&A, Munich) and Associates Felix Wichert, Thomas Kienle, Antonia Mertens, Marc Heusel (all TMT, Frankfurt), Laura Wiedemann (Employment, Frankfurt) and Sinan Günebakan (Düsseldorf).
Daniel Pauly comments:
„We are delighted to have advised Allianz on this complex transaction in a highly regulated market, balancing commercial and regulatory requirements as well as combining carve-out with investment elements for our client.”
Thomas Broichhausen adds:
“One particularly interesting and challenging aspect was the implementation of the typical, market driven dynamics of cyber insurance into a long-lasting global contractual framework.”
Linklaters has recently advised Allianz on numerous strategically important transactions, including advsing Allianz Direct on the acquistion of Eurofils, on the acquisition of iptiQ's European Property and Casualty insurance business as well as Allianz Capital Partners on sale of stake in ATC Europe.
The global Linklaters insurance team provides market leading, full service advice across the entire insurance value chain. This includes complex M&A, portfolio transfers, corporate reorganisations, regulatory and capital matters, distribution arrangements, and strategic partnerships. Drawing on specialists in key financial centres worldwide, the team regularly advises insurers, reinsurers, intermediaries, and investors on high value, cross border, and strategically significant transactions that shape the future of the insurance market.