POELLATH advises management of Summitas Group on the formation of a long-term joint venture to acquire insurance brokers

U.S. private investment firm Bain Capital Insurance (“Bain Capital”), together with Canada Life Irish Holding Company Limited (“Canada Life”), a Canadian insurance and financial services company, and JDC Group, a leading German financial services company, have entered a long-term joint venture to acquire and retain insurance brokers or agencies in Germany and Austria.

As part of this cooperation, the Summitas Group (“Summitas”) was founded to provide established insurance brokers with access to a platform that enables organic growth, partnership and modernization.

Munich-based Summitas will acquire established insurance brokers in Germany and Austria and support their long-term growth. The acquired brokers have the option to remain active in their core business or to seek a succession solution for their company.

Bain Capital strengthens the group with over 40 years of investment expertise, long-term investment commitment and access to world-class operational experience and resources.

Canada Life brings expertise and access to insurance products and long-term growth capital. JDC Group provides an established brokerage platform and strong expertise in technology and digital consulting.

POELLATH provided comprehensive legal advice to the management of Summitas Group in the context of the transaction regarding the management participation program with the following Munich team:

• Dr. Benedikt Hohaus (partner, management participation/private equity)
• Silke Simmer (senior associate, management participation/private equity)