BNP Paribas Cardif and Scotiabank’s Strategic Alliance in Latin America


Carey, Willkie Farr & Gallagher, Mijares, Torys and Philippi Prietocarrizosa Ferrero Du & Uría advised on the transaction

BNP Paribas Cardif, the insurance unit of BNP Paribas, and Scotiabank, Canada’s international bank and a leading financial services provider in the Americas, have entered into a long-term bancassurance strategic alliance in Latin America.

The 15-year strategic alliance between BNP Paribas Cardif and Scotiabank involves the development of protection and insurance solutions to be distributed to Scotiabank’s growing 9 million customers in Chile, Colombia, Mexico and Peru. Supported by BNP Paribas Cardif’s multichannel and analytics expertise, Scotiabank will offer innovative solutions and create new experiences for its customers in the Pacific Alliance Countries. The respective local agreements will be signed in each country in the following weeks, subject to regulatory approvals as applicable.

Willkie advised BNP Paribas Cardif in the negotiation with a team including Gregory Astrachan and Maria-Leticia Ossa Daza and included partner Howard Block, associates Sarah Wong and Anna Martini Pereira, and foreign law clerks Pablo Hontoria Salgado and Tiago Eler Silva.

In Chile, Carey advised BNP Paribas Cardif with Salvador Valdés, Matías Vergara, Lorena Pavic, Arturo Poblete, Carla Karzulovic, Jorge Soto, Gabriela García, Roberto Villaseca, Tamara Feliú and José Pardo.

In Mexico, Mijares advised BNP Paribas Cardif.

Torys acted as international legal advisor to Scotiabank

PPU advised Scotiabank in Chile with Andrés Sanfuentes and Alvaro Espinosa.

Involved fees earner: Tamara Feliú – Carey; Gabriela García – Carey; Carla Karzulovic – Carey; José Pardo – Carey; Lorena Pavic – Carey; Arturo Poblete – Carey; Jorge Soto – Carey; Salvador Valdés – Carey; Matías Vergara – Carey; Roberto Villaseca – Carey; Álvaro Espinosa – Philippi Prietocarrizosa Ferrero DU & Uría; Andrés Sanfuentes Astaburuaga – Philippi Prietocarrizosa Ferrero DU & Uría; Gregory Astrachan – Willkie Farr & Gallagher; Howard Block – Willkie Farr & Gallagher; Anna Martini G. Pereira – Willkie Farr & Gallagher; Maria-Leticia Ossa Daza – Willkie Farr & Gallagher; Sarah Wong – Willkie Farr & Gallagher;

Law Firms: Carey; Philippi Prietocarrizosa Ferrero DU & Uría; Willkie Farr & Gallagher;

Clients: BNP Paribas Cardif S.A.; Scotiabank;

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Author: Ambrogio Visconti