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Wednesday, February 21, 2024

GA_P advises WiZink on its agreement with Swiss Re

Gómez-Acebo & Pombo has advised WiZink (an entity controlled by the private equity fund VÄRDE) on a 15-year exclusive agreement with Swiss Re (through its digital insurer iptiQ) as a bancassurance partner

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The digital bank will sell general and life insurance under the WiZink brand, in addition to 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 bank’s website and app. The offer will initially cover life, accident, hospitalisation, and legal insurance, and will be completed with car and home insurance. The goal is to exceed €100 million in turnover in the next five years.

The GA_P´s team was led by Corporate M&A partner Augusto Piñel, along with of counsel Valentina Rodríguez and associate Miren Ibáñez.

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