DLA Piper has advised Swiss Baloise Group on the sale of Basler Leben AG's life insurance portfolio to Frankfurter Leben Group. Basler Leben AG has not written any new insurance business via this branch since 2012. The sold portfolio has a sum insured of CHF 1.9 billion, which represents around one fifth of Baloise’s total portfolio of traditional life insurance in Germany.

As part of this transaction, the employees handling the portfolio as well as the operating infrastructure shall also be transferred to the purchaser along with the sold insurance policies.  Based on this acquisition, Frankfurter Leben Group intends to create a specialised consolidation platform in the German run-off life insurance market. The transaction is still subject to approval by the competent authorities.

Listed on the SIX Swiss Exchange, the Baloise Group is a European provider of insurance and pension solutions. In Switzerland, the company operates as a focused financial services provider, offering a combination of insurance and banking services. It also has a market presence in Belgium, Germany and Luxembourg. Its distribution network includes its own sales organisation as well as brokers and other partners.

The DLA Piper team was led by partner Jan Eltzschig (Corporate, Cologne) and included the partners Dr Konrad Rohde (Tax, Frankfurt), Dr Andreas Imping (Employment, Cologne), Mike Danielewsky (Finance/Restructuring), Dr Dietmar Schulz (Finance/Restructuring, both Frankfurt), Dr Gunne Bähr (Insurance), Jan Pohle (IT, both Cologne), Dr Michael Holzhäuser (Antitrust, Frankfurt), the counsels Dr Raimund Behnes (Tax, Frankfurt), Silke Goschler (Commercial, Munich), Saskia Lais-Jansen (Intellectual Property, Cologne), and the associates Maren Beneke, Johannes Janning (both Corporate), Dr Volker Lemmer and Andreas Keller (Insurance, all Cologne).