Gómez-Acebo & Pombo has advised WiZink (controlled by the private equity fund VÄRDE) on a 15-year exclusivity agreement with Swiss Re
Gómez-Acebo & Pombo has advised WiZink (an entity controlled by the private equity fund VÄRDE) on a 15-year exclusivity agreement with Swiss Re (through its digital insurer iptiQ) as bancassurance partner. The digital bank will sell general and life insurance under the WiZink brand, in addition to contributing its 2.1 million customers in Spain and Portugal.
Both companies will offer a diversified range of insurance products in Spain and Portugal, which will be marketed both on the website and on the bank’s app. The offer will initially cover life insurance, accidents, hospitalisation, legal and will be completed with cars and home. The goal is to exceed a turnover of €100 million in the next five years.
The team from GA_P advising on the deal was made up of partner Augusto Piñel (pictured left), of counsel Valentina Rodríguez (pictured right) and associate Miren Ibáñez from the Commercial team.