Taylor Wessing has advised CIG Pannonia Eletbiztosito and its subsidiary CIG Pannonia Elso Magyar Altalanos Biztosito on a series of insurance portfolio transfer transactions. Oppenheim advised Europ Assistance Irish Branch – one of the counterparties.
According to Taylor Wessing, the transactions are aimed at strengthening the group’s alternative distribution channel.
They involved the transfer of insurance portfolios from Alfa Vienna Insurance Group Biztosito, BNP Paribas Cardif Biztosito Magyarorszag, and Union Vienna Insurance Group Biztosito. In addition, a portfolio transfer agreement was concluded between Europ Assistance Irish Branch, as transferring insurer, and CIG Pannonia Elso Magyar Altalanos Biztosito in relation to the acquisition of assistance insurance policies; this transfer remains subject to approval by the French supervisory authority, the ACPR.
The Taylor Wessing team included Partner Akos Mates-Lanyi, Senior Associate Reka Deak, and Junior Associate Zsofia Vertesaljai-Nagy.
The Oppenheim team included Partner Jozsef Bulcsu Fenyvesi, Senior Counsels Agnes Szaz and Barna Fazekas, and Associate Gergely Szecsenyi.
Editor's Note: After this article was published, Wolf Theiss informed CEE Legal Matters that it advised on merger filing aspects of the deal. The team consisted of Partner Janos Toth, Senior Associate Miriam Fuchs, and Associate Borbala Dobo.
