Zurich Insurance Group to Acquire QBE’s Latin American Operations

February 27, 2018

Willkie represented Zurich in the $409 million acquisition.

Zurich Insurance Group announced it has entered into an agreement to acquire the Latin American insurance operations of Australian insurer QBE Insurance Group Limited for $409 million. The transaction involves the purchase of QBE’s insurance businesses in Argentina, Ecuador, Brazil, Mexico and Colombia. Upon completion of the transaction, Zurich would become the leading insurer in Argentina and third leading insurer in Ecuador.

Zurich is a leading multi-line insurer providing a wide range of property and casualty, and life insurance products and services in more than 210 countries and territories. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. Willkie has represented Zurich in numerous M&A transactions over the past 25 years.

The Willkie deal team was led by partner and Chairman of the firm Thomas Cerabino and partner and head of the firm’s Latin American practice Maria-Leticia Ossa Daza. Also working on the transaction were partners Jordan Messinger and Spencer Simon; senior counsel Richard Reinhold and Donald Henderson Jr.; counsel Elizabeth Bannigan; associates Sarah Wong, Richard Hevier, Alexander Swartwood, Guy Inbar and Rose Ohanesian; and foreign law clerk Anna Martini Pereira.