Insurance and Complementary Social Security

Tailored advice for insurers and insurance mediators

Through our team, we offer specialized advice on insurance and complementary social security systems to insurance companies, pension-fund managers, insurance brokers and companies with pension commitments.

We have wide experience in national and international insurance transactions, as well as in advising insurance companies and mediators on regulatory matters, insurance mediation and complementary social security systems.

We highlight our advisory services relating to (i) the regulation of the insurance and insurance mediation sector, and (ii) life and non-life insurance products and services. Our team also advises on incorporating and restructuring insurance and insurance mediation companies, providing clients with day-to-day advice, particularly in the field of insurance brokerage.

Many of the lawyers in our Litigation Practice have extensive experience in advising and representing major insurance and insurance mediation companies in court proceedings.

• Regulatory: We advise on the regulatory and supervisory aspects of the insurance activities of Spanish and Portuguese companies, and of companies registered in the Member States of the European Economic Area, when these operate under the 'freedom to provide services' or the 'right of establishment' regimes, as well as of foreign companies from third countries operating in Spain and Portugal. We are in close contact with the supervisory bodies for activities involving insurance and complementary social security systems (the Directorate General of Insurance and Pension Funds in Spain and Instituto de Seguros de Portugal in Portugal), to make and resolve queries arising from regulations on private insurance, insurance mediation and complementary social security.
• Insurance M&A and portfolio transfers: We provide clients with technical support and advise them on incorporating, merging and demerging insurance and insurance mediation companies. We have extensive expertise in designing, negotiating and implementing strategic joint ventures between banks and insurance companies (bancassurance transactions). We have also handled and advised on many national and transnational transactions to transfer portfolios.
• Insurance products (life and non-life): We advise on structuring and implementing insurance products, including preparing and reviewing the terms and conditions of insurance products such as life insurance, credit insurance, unit-linked insurance and credit life insurance.
• Insurance provisions: We advise on legal and regulatory aspects concerning the suitability of financial products for the investment of life-insurance mathematical provisions and the granting of insurance technical provisions.
• Collective and business complementary social security regimes: We provide comprehensive legal support to companies with employee pension commitments (employment pension plans, business complementary social security plans, collective life insurance agreements, mutual provident societies, internal funds and voluntary complementary social security institutions of the Basque Country) in relation to implementing tools suitable for their outsourcing, as well as advising on developing and terminating these pension commitments, and advising on designing efficient payment schemes.
• Corporate and tax: We advise on the commercial, legal and tax aspects of the products that insurance companies offer on the market. We also advise on corporate issues relating to insurance companies and insurance mediators (day-to-day advising on corporate issues and “corporate housekeeping”).
• Litigation: Our advice includes analyzing claims and possible disputes with insurance companies, insurance mediators and policy holders, and negotiating with insurance companies and policy holders, to defend our clients’ interests. We also advise the entities of the insurance sector on investigation enquiries and sanction proceedings opened by the corresponding supervisory bodies (the Directorate General of Insurance and Pension Funds in Spain and Instituto de Seguros de Portugal in Portugal).