Clyde & Co advised Ecclesia on its acquisition of Wefox subsidiary Assona

Global law firm Clyde & Co has advised Ecclesia Group, a leading German insurance broker for companies and institutions, on its acquisition of Assona, a specialist MGA. The seller is the insurtech company Wefox.

Berlin-based specialist underwriter Assona specializes in B2B2C (business-to-business-to-consumer) insurance products and has built up a leading market position in insurance for e-bikes and bicycles. Assona covers the entire value chain, from policy issuing to claims processing and settlement, and serves over 2.2 million customers in Germany and Austria. With this acquisition, Ecclesia Group is expanding its value chain and acquiring further specialist expertise against the backdrop of a sustainable mobility transition.

Ecclesia was advised by a team led by partner Eva-Maria Barbosa and Adriaan Louw (senior associate, both corporate, Munich). The M&A team also included Jan Spittka (partner, data protection, Düsseldorf), Sophie-Dorothee Enger, Dardan Gashi, Victor Gontard, Ena Kurbegovic (all corporate, Munich), Yannick Zirnstein (data protection, Düsseldorf, all senior associates), Thora Rock (corporate, Munich), Daniel Nguyen (data protection, Düsseldorf, both associates).

Dissmann Orth (Dr. Jochen Ettinger, Dr. Christian Winkler) advised on tax law, ELP Partners (Dr. Marius Fritzsche) advised on employment law issues.