Insurance
In a highly regulated and sophisticated environment, market participants benefit from our complementary blend of industry insight and expertise in practice areas relevant to this sector, including M&A, regulatory &compliance, corporate, antitrust, employment, disputes, finance, fiscal & tax. This mix of capabilities, skills and resources generates sophisticated and tailored solutions that always consider the commercial realities, including industry trends, as well as the specific business needs of each client.
Our team of lawyers consolidated its position on the local insurance market as a force well equipped to provide day-to-day assistance to global/ local insurance companies/ private pensions’ undertakings, insurance intermediaries, bancassurance providers, as well as to successfully complete complex internal reorganization processes implemented in view of ensuring compliance with Solvency II requirements.
Our lawyers are prepared to comprehensively address any industry-specific matter:
- regulatory advice
- portfolio transfers
- partnerships for insurance distribution and outsourcing
- insurance M&A transactions and restructuring
- setting up insurance companies and insurance intermediaries
- insurance commercial contracts/ insurance policies
- insurance joint – ventures
- litigation on enforcement of insurance policies
Examples of our work in the insurance/ private pensions sector include advice to:
- a major insurance group in Europe to expand its insurance activities on the Romanian general insurance market by acquiring 100% of the equity of a Romanian general insurance undertaking
- the largest global providers of insurance, annuities and employee benefit with respect to (i) the direct and indirect change of control at the level of two Romanian life insurance undertakings in view of preparing for the implementation of the requirements under Solvency II Directive, (ii)the disposal of its Romanian private pensions business
- a leading global provider of risk management, insurance and reinsurance brokerage and human resources solutions and outsourcing services on: (a) various direct/ indirect restructuring processes, (ii) regulatory and commercial aspects arising with the activities performed in Romania, including day-to-day legal assistance
- various Romanian insurance companies on (a) the implementation of the distribution of insurance products directly in the intermediary’s stores or via an electronic platform (as part of insurance mediation agreements with two of the largest Romanian IT&C, electronic and home appliances retailers/telemarketing (as part of bancassurance distribution channel), (b) pre-litigious aspects related to bancassurance agreements
- a global insurer on: (i) restructuring its activity in the Romanian jurisdiction as part of the restructuring process at European level, (ii) review of policies from perspective of compliance with the Romanian legislation/ requirements, (iii) review of online sale process
- a local private pensions asset management company in relation to the transfer of the private pensions fund business
- a multinational life insurance, pension and asset management company in the establishment of a joint venture pension fund management company together with a local financial institution
- a major international financial group before the Financial Supervisory Authority on the performance of the bancassurance business
- one of the largest private medical insurance providers in the UK on a wide variety of matters for market entry in Romania (i.e., regulatory framework for provision of health insurance services, consumer protection, personal data protection, taxation, etc.)
- a foreign subsidiary of an Asian multinational banking and financial services company on the possibility to write inward reinsurance business for identified local insurance companies incorporated in Romania
