Willkie client Zurich Insurance Group agrees to acquire the individual and group life insurance businesses and the long-term savings operations of EuroAmerica in Chile.
On April 20, it was announced that Willkie client Zurich Insurance Group, through its subsidiary in Chile, has entered into an agreement to acquire the individual and group life insurance businesses and the long-term savings operations of EuroAmerica in Chile. The transaction, which is subject to regulatory approvals, will position Zurich in Chile as one of the leading insurers in the country in these insurance segments. It is expected to enable Zurich Chile to accelerate growth, increasing its market share in group and individual life insurance. It also strengthens its long-term savings business by increasing by four times the number of customers and complements the current value proposition.
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 53,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 210 countries and territories.
Earlier in the year, Willkie represented Zurich in its acquisitions of QBE’s Latin American operations and in its acquisition of 19 traveler assistance providers in Latin America.
The Willkie deal team on the current transaction was led by partners Thomas Cerabino, Rajab Abbassi and Maria-Leticia Ossa Daza, and included partners Jordan Messinger and Spencer Simon; senior counsel Richard Reinhold; counsel Daniel Mun; and associates Danielle Thomasma, Jessica Julich, Rose Ohanesian and Guy Inbar.