Global law firm Norton Rose Fulbright has advised German financial services group Wüstenrot & Württembergische AG (W&W) on the acquisition of 75 per cent of the share in Munich-based FinTech company treefin AG. This marks an important step in W&W Group’s digital strategy.

In 2015, treefin AG launched its self-developed finance assistant on the market with great success. The product supports its user as constant companion for financial services. Furthermore, the app is able to recognise areas for improvement and optimisation of financial services used, as well as a way to detect cost cutting possibilities and notifies the user accordingly. The digital finance assistant is tailored to the needs of W&W customers and will be made available to such customers during the course of this year.

This transaction is the first takeover of an InsurTech startup by a listed insurance company. The team led by partner Eva-Maria Barbosa has provided W&W with comprehensive legal support during the entire transaction. Further assistance was provided by partner Dr. Cornelia Marquardt (employment law), of counsel Markus Müller (IT law and data protection) as well as associates Dr. Christina Lorenz, Benjamin Köstler (both insurance corporate law), Sebastian Frech (corporate law) and Jannis Breitschwedt (employment law).

Norton Rose Fulbright regularly advises W&W Group, most recently regarding the sale of two Czech subsidiaries to Allianz pojišťovna, a.s..

By Norton Rose Fulbright