Clifford Chance has advised leading global insurer Generali on its agreement to acquire Liberty Seguros, the Spanish insurance company operating in Spain, Portugal, Ireland and Northern Ireland from Liberty Mutual for €2.3 billion. This is a key strategic transaction for Generali as they pursue their growth strategy to develop their P&C business and leadership position in Europe.
Clifford Chance has advised leading global insurer Generali on its agreement to acquire Liberty Seguros, the Spanish insurance company operating in Spain, Portugal, Ireland and Northern Ireland from Liberty Mutual for €2.3 billion.
The cross-border team was led by partner and head of the global insurance sector group, Ashley Prebble (London), who was supported by senior associates Nancy Li (London), Miguel Barredo (pictured left) (Madrid), Eli Bursky (London) and Claudia Hall (London), and associates María Viñas (pictured right) (Barcelona) and Anita Arianpour (London). Partners Andre Duminy provided advice on the transitional services arrangement and Nicola Hemsley advised on the tax aspects of the transaction.
At Generali, the in-house team was led by Andrea Fassina (Head of Group Strategic Legal Affairs), Valentina Sarrocco (International General Counsel), and Stefano Crisostomo (Group Strategic Legal Affairs Counsel) and the support of the Generali colleagues from Spain and Portugal.
From Spain: Charo Fernandez Ramos (General Counsel), Alfonso Bujanda Castillo (Head of Legal and Corporate Affairs ) and from Portugal: Natasha Revez (General Counsel) and the support as well of the portuguese law firm Morais Leitao.
Ashley said, “We are delighted to have had the opportunity to support Generali on such a key strategic transaction and work with Andrea, Stefano and Valentina in their fantastic in-house team.”
Generali is one of the largest global insurance and asset management providers with a presence in over 50 countries and a total premium income of €81.5 billion in 2022.