Milan advises Mapfre on a 50/50 joint venture with Italy’s Vittoria Assicurazioni

Global law firm Norton Rose Fulbright has advised Mapfre Asistencia, Compañia Internacional de Seguros y Reaseguros S.A. (Mapfre) on a joint venture agreement with Vittoria Assicurazioni S.p.A. (VAS) to provide non-insurance services to the Italian market. Mapfre and VAS will each hold 50 percent of the shares in a newly formed entity that will deliver the services. Mapfre and VAS have been working together for over a decade. With this agreement, they expect to leverage synergies and grow in the Italian market. 

The Norton Rose Fulbright team advising on this transaction was based in Milan. The team was co-led by partners Salvatore Iannitti, Head of the Italian Corporate, M&A and Securities practice who focuses on the insurance and financial services sector, and corporate and M&A partner Claudio Di Falco, assisted by associate Alessio Marinacci. 

Mapfre is a global insurance company. It is the benchmark insurer in the Spanish market, the largest Spanish multinational insurance group in the world, the number one insurance group in Latin America and the sixth largest carrier in Europe by Non-Life premium volume. 

Founded in 1921, VAS is a leading insurance company in Italy, operating mainly in the non-life sector.