Linklaters has advised Allianz Direct on the acquisition of the insurance portfolio of FRIDAY in Germany and France. Allianz Direct is the pan-European online insurer of the Allianz Group. The transaction is subject to regulatory approvals and is expected to be completed by mid-2025.

FRIDAY, a digital insurance company operating in Germany and France, is a subsidiary of Baloise. With this acquisition, Allianz Direct aims to further strengthen its position in the German direct property and casualty insurance market. At the same time, the company’s presence in the French home insurance market will be expanded, complementing the recently acquired portfolio of the French insurtech Luko.

The transaction includes the entire portfolio and distribution agreements. FRIDAY’s business will be gradually transferred to the Allianz Direct platform.
The Linklaters team was led by Thomas Broichhausen (Partner/Global Co-Head of Insurance, Corporate/M&A, Munich) and Alina Kaufmann (Counsel, Corporate/M&A, Düsseldorf).

Other team members included Christoph Barth (Partner, Antitrust & Foreign Investment, Düsseldorf), Dr René Döring (Partner, Employment & Incentives, Frankfurt/Munich), Michael Leicht (partner, TMT, Frankfurt), Eliane Dejardin Botelho (Partner, Capital Markets, Luxembourg), Frederik Winter (Partner, Financial Regulation, Frankfurt), Andreas Schaflitzl (Partner, Tax, Munich), Atif Bhatti (Counsel, IP/LAI, Frankfurt).