DMS DeBenedetti Majewski Szczesniak has advised Vienna Insurance Group AG on its acquisition of 100% of the shares in Gothear Towarzystwo Ubezpieczen S.A. from Germany's Gothaer Group.
The transaction closed on February 28, 2019 following approval by the local authorities.
Gothaer TU, which currently has around 530 employees, offers non-life insurance products mainly through brokers and agents. It serves more than 700,000 customers and manages more than two million insurance policies.
VIG now operates with five companies and four different brands in the Polish insurance market. According to DMS, "as a result of the transaction, Vienna Insurance Group AG Wiener Versicherung Gruppe will significantly strengthen its position on the Polish non-life insurance market, increasing its market share to more than 9%."
The DMS team was led by Partner Bartosz Bagienski, supported by Attorney-at-Law Magdalena Malocha and Trainee Advocates Krzysztof Sowinski and Anna Pszczolkowska. The team was supervised by Managing Partner Dariusz Szczesniak.