Noerr advises InsurTech wefox on strategic sale in Germany

A Noerr team led by our Berlin partner Felix Blobel has advised the InsurTech company wefox on the sale of its subsidiary, assona GmbH, to the Ecclesia Group. This transaction is part of wefox’s announced exit from the German insurance market in June.

assona, a specialty underwriter acquired by wefox in 2021, has strengthened its leading position in the distribution of insurance for e-bikes and bicycles through specialist retailers and significantly increased its profitability under wefox’s ownership. Ecclesia plans to further expand assona’s successful affinity distribution partnerships and retain all employees.

Noerr regularly advises on financing rounds and M&A transactions for FinTechs and InsurTechs and is recognised as one of the leading law firms in the areas of venture capital and growth capital.

Advisors to wefox: Noerr

Lead: Felix Blobel (partner, PE/VC, Berlin)

PE/VC: Nicolas Schlüter (senior associate), Ethel Nanaeva (associated partner), Anna Danelia-Aretz (associate, all Berlin)

Tax: Andre Happel (partner), Thomas Renner (senior associate, both Frankfurt)

Insurance/Insurance Regulation: Thomas Heitzer (partner, Düsseldorf)