Following the successful merger of Provinzial NordWest and Provinzial Rheinland to form the Provinzial Group, Provinzial Rheinland Versicherung and Westfälische Provinzial Versicherung, the Group's two largest property and casualty insurers, are now merging to form Provinzial Versicherung. The merger becomes effective upon entry in the commercial register. This transaction creates the sixth largest insurer in this segment in Germany.
With total premium income of over six billion euros, the Provinzial Group is one of the largest German insurance groups and has five million customers. Around 12,000 employees work for the Group in in back- and front-office functions, including around 1,000 trainees, and 1,253 Provinzial agencies, 121 savings banks with their branches and brokers act as sales partners.
Hengeler Mueller advised the Provinzial Group on the merger. The team included partners Carl-Philipp Eberlein (Regulatory), Daniel Wilm (Corporate) as well as associates Jan Schülting (Regulatory) and David Fabry (Corporate) (all Düsseldorf).