Zurich Insurance Group $150 Million Acquisition of the individual and group life insurance businesses and the long-term savings operations of EuroAmerica in Chile

Willkie Farr & Gallagher, DLA Piper BAZ NLD, Claro & Cia. and Baraona Fischer Spiess advised on the transaction

Zurich Insurance Group, through its subsidiary in Chile, has entered into an agreement to acquire the individual and group life insurance businesses and the long-term savings operations of EuroAmerica in Chile. The transaction, which is subject to regulatory approvals, will position Zurich in Chile as one of the leading insurers in the country in these insurance segments. It is expected to enable Zurich Chile to accelerate growth, increasing its market share in group and individual life insurance. It also strengthens its long-term savings business by increasing by four times the number of customers and complements the current value proposition.

Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 53,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 210 countries and territories.

Earlier in the year, Willkie represented Zurich in its acquisitions of QBE’s Latin American operations and in its acquisition of 19 traveler assistance providers in Latin America.

Willkie advised Zurich with a team iincluding Thomas Cerabino (Picture), Rajab Abbassi and Maria-Leticia Ossa Daza, Jordan Messinger, Spencer Simon, Richard Reinhold, Daniel Mun, Danielle Thomasma, Jessica Julich, Rose Ohanesian and Guy Inbar.

In Chile, DLA Piper BAZ|NLD advised Zurich with Paulo Larraín, Manola Quiroz, María de los Angeles Correa, Juan Pablo Mesías, Pilar Paredes, María Verónica Matte and Tomás Muñoz.

Claro & Cia. advised Euroamérica with Felipe Larraín, Juan León and  Andrés del Sante.

Baraona Fischer Spiess advised Euroamérica with Alex Fischer.

 

Involved fees earner: Alex Fischer – Baraona Fischer Spiess; Paulo Larraín – DLA BAZ – Bahamondez, Alvarez & Zegers; Manola Quiroz – DLA BAZ – Bahamondez, Alvarez & Zegers; María de Los Ángeles Correa – DLA BAZ – Bahamondez, Alvarez & Zegers; Pilar Paredes – DLA BAZ – Bahamondez, Alvarez & Zegers; María Verónica Matte – DLA BAZ – Bahamondez, Alvarez & Zegers; Juan Pablo Mesías – DLA BAZ – Bahamondez, Alvarez & Zegers; Felipe Larraín – Claro y Cia; Andrés Del Sante – Claro y Cia; Juan León – Claro y Cia; Thomas Cerabino – Willkie Farr & Gallagher; Rajab Abbassi – Willkie Farr & Gallagher; Maria-Leticia Ossa Daza – Willkie Farr & Gallagher; Daniel Mun – Willkie Farr & Gallagher; Danielle Thomasma – Willkie Farr & Gallagher; Jordan Messinger – Willkie Farr & Gallagher; Rose Ohanesian – Willkie Farr & Gallagher; Spencer Simon – Willkie Farr & Gallagher; Richard Reinhold – Willkie Farr & Gallagher; Guy Inbar – Willkie Farr & Gallagher;

Law Firms: Baraona Fischer Spiess; DLA BAZ – Bahamondez, Alvarez & Zegers; Claro y Cia; Willkie Farr & Gallagher;

Clients: Zurich Insurance Group; Euroamerica SA;

 

Author: Ambrogio Visconti.