Allen & Overy advises Frankfurter Leben Group on the acquisition of Generali Deutschland Pensionskasse
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With this transaction, the Frankfurter Leben Group is further strengthening its role as a specialised life insurance and pensions products consolidation platform in Germany. Transfer of Generali Deutschland Pensionskasse is subject to the owner control procedure conducted by the German Federal Financial Supervisory Authority (BaFin).
This deal marks the fifth acquisition of an insurance business in the German life insurance market for the Frankfurter Leben Group. The transaction comprises approximately 150,000 insurance policies and investments in a total amount of approximately EUR 2.8 billion. The business model of the Frankfurter Leben Group, which focuses on long-term success, is based on a business policy that centres on the trust and the interests of the insured persons. Thanks to its specialisation, the Frankfurter Leben Group is able to provide an efficient and cost-effective management focusing on creating long-term value for its policyholders. Clients benefit from a lower cost burden, market-standard participation features and an excellent client service.
The Allen & Overy team was led by partner Dr Jan Schröder and counsel Dr Achim Schmid (both Corporate Insurance, Düsseldorf) and also comprised partners Dr Heike Weber (Tax, Frankfurt), Dr Jens Matthes (IP/IT, Düsseldorf) and Dr Börries Ahrens (Antitrust, Hamburg). The team further included senior associates Laura Reuther (M&A/Corporate, Frankfurt), Anna Kräling (IP/IT), Catharina Glugla (Data Protection, both Düsseldorf) and Dr Julia Molestina (Antitrust, Hamburg) as well as associates Saber Baratzadeh (Corporate Insurance, Düsseldorf), Sören Rathjens (Tax, Frankfurt) and Julius von Düring (Antitrust, Hamburg).