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Allen & Overy advises Erichsen on sale of cyber business to Finlex

Allen & Overy has advised Essen-based cyber insurance broker Erichsen GmbH on the sale of its business operations to Frankfurt-based Finlex GmbH, the leading specialist for D&O and cyber insurances in Germany.

The merger of the two businesses will create a unique cyber know-how pool and Europe's largest technology-based cyber insurance ecosystem. The two Erichsen managing directors Sabine Pawig Sander and Dr Sven Erichsen will, in their capacity as non-executive directors, continue to be responsible for the further development of this segment. The parties have agreed not to disclose the purchase price.

The Allen & Overy team was led by counsel Dr Achim Schmid and further comprised Anne Fischer (both Corporate Insurance, both Düsseldorf) and Marie-Luise von Buchwaldt (Corporate/M&A, Hamburg).