International law firm Simmons & Simmons has advised the Spanish insurance group Mapfre on the signing of an exclusive distribution agreement with the Carrefour group in Spain.
This agreement will enable Carrefour to offer its customers personalised insurance products, ensuring a close and effective protection proposition, with additional savings on in store. their shopping basket. In turn, Mapfre will expand its distribution network, making a comprehensive range of life and non-life insurance products available to Carrefour customers, including the more than 10.5 million members of Club Carrefour.
Mapfre is the leading Spanish insurance group worldwide, with 7.4 million customers, around 11,000 employees and more than 3,000 offices in Spain.
Carrefour Spain operates 204 hypermarkets, 162 Carrefour Market supermarkets, 1,161 Carrefour Express stores and 70 Supeco stores in Spain, as well as online commerce.
The transaction is part of the growing trend in recent years for insurance groups to seek new distribution channels for insurance products, beyond traditional channels and bancassurance agreements.
The Simmons & Simmons team was led by Francisco de León, with the participation of Paloma Sánchez-Fayos and Javier del Álamo (CoComm), and Juan Sosa and Juan Manuel Cocho (Tax).
Francisco de León commented: "My special thanks to all the teams at Mapfre and Mapfre España who participated in the transaction, including the General Secretariat, Mapfre España’s Legal Department, Business, M&A and Tax areas. It has been a pleasure to support Mapfre’s outstanding teams in this transaction. It has truly been a privilege to assist you."
