BaFin has approved the merger, which will be entered in the commercial register shortly. The merger will take effect retroactively as of January 1, 2024. The joint life insurer will in future operate under the name Provinzial Lebensversicherung AG and, along with Provinzial Versicherung AG, which has already been merged, will be one of the group’s two core companies. With a premium income of more than two billion euros, the new life insurer, based in Kiel, will be among the top 10 in Germany.

Hogan Lovells advised Provinzial on the legal issues related to the merger, including regulatory requirements and obtaining the necessary BaFin approvals.

“It was a pleasure for us to support Provinzial in this important strategic measure. We were once again able to demonstrate our expertise in large-scale restructurings involving complex regulatory issues,” says Dr. Christoph Küppers, a member of the leadership team of the global insurance practice at Hogan Lovells.