Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) has advised Fidelidade - Companhia de Seguros, S.A., the leading insurance company in Portugal, on the acquisition of a 70 percent majority stake in the prosperity company AG, an insurtech group with main focus of operation in Germany, Switzerland, Austria and Liechtenstein.

Fidelidade is the leading life and non-life insurer in Portugal, with presence on four continents and more than seven million customers worldwide. The prosperity company AG’s main activity is the development of long-term savings products, based on innovative technological solutions. Fidelidade and the majority stakeholders of the prosperity company AG, as well as its management team, reached an agreement in August 2021 and obtained all required regulatory approvals. The transaction was closed in February 2022.

The Freshfields team was led by partner Wessel Heukamp and counsel David Schwintowski and comprised partner Kai Hasselbach, principal associate Max Alles and associates Jadwiga Loiko and Mark Grutzeck (all Corporate/M&A). Partner Frank Roehling, counsel Bertrand Guerin and principal associate Mathilde Beaumunier advised on Antitrust.