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Friday, May 17, 2024

Hogan Lovells, Uría advise on AECS´s insurance agreement with ING

Hogan Lovells has advised AECS (Admiral Europe Compañía de Seguros S.A.U) on its long-term agreement with ING, advised by Uría Menéndez, for the marketing of car and motorbike insurance in Spain.

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ING and Admiral Seguros (AECS) have reached a long-term agreement for the marketing of car and motorbike insurance in Spain, a product that will be launched in the first quarter of 2023 and which will allow users to carry out procedures such as vehicle appraisal, registration and follow-up of claims and management of roadside assistance from their mobile phones. The insurance can also be contracted directly from the mobile phone.

Both entities have explained in a statement that the signing of this agreement is the result of a bidding process that began at the end of last year, to which the leading insurers in the sector were invited and which Admiral, a British-owned company that has been operating in Spain since 2006, has finally won. With this alliance, ING wants to strengthen its insurance distribution strategy by expanding its offer with “innovative” and digital proposals.

Hogan Lovells’ advice to AECS was led by Insurance partner Pablo Muelas, in collaboration with senior associate Guillermo Ruiz.

Uría CaixaVida
Guillermo San Pedro´(left), Jaime del Fraile Sánchez (centre),Carmen Santo Marhuenda (top right) and Ignacio Díaz de Rábago de Areilza (bottom right)

ING Bank sucursal en España was advised by Uría Menéndez, with an M&A-pricate equity team led by partner Guillermo San Pedro, together with counsel Jaime del Fraile and associates Carmen Santo and Ignacio Díaz de Rábago.

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