German team advises ELEMENT on acquisition of mailo insurance portfolio
Germany | Press release - Business | December 2022
Global law firm Norton Rose Fulbright has advised digital insurance company ELEMENT Insurance AG (ELEMENT) on its acquisition of the portfolio of Cologne-based mailo Versicherung AG (mailo).
The German Federal Financial Supervisory Authority (BaFin) has approved the transaction.
Berlin-based InsurTech company ELEMENT develops digital and innovative P&C insurance solutions along the entire B2B2X insurance value chain, including claims settlement.
Through the strategic partnership with ELEMENT, Cologne-based insurer mailo can also further expand its product offering for brokers and create additional underwriting opportunities in commercial insurance. The Berlin-based InsurTech has been the risk carrier for mailo's new business since August 15, 2022. Under the strategic partnership entered into by ELEMENT and mailo in connection with the portfolio transfer, mailo will be able to expand its product offering to its broker partners.
The Norton Rose Fulbright team that advised on the portfolio transfer, including the BaFin approval process, was led by partner Anne Fischer (Insurance M&A, Düsseldorf). Anne, who is an expert in transactions in the insurance sector, joined Norton-Rose-Fulbright in September 2022 and heads the firm's new Düsseldorf office together with Dr. Maximilian Findeisen.
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