Cologne – The merger of Delvag Rückversicherungs-AG (Delvag Rück) into Delvag Luftfahrtversicherungs-AG (Delvag) became effective today on being entered into the Cologne Commercial Register. As part of the merger, the company name was changed from Delvag Luftfahrtversicherungs-AG to Delvag Versicherungs-AG.
A team from CMS Germany headed by lead partner Dr Winfried Schnepp advised Delvag on insurance regulation and corporate and employment law aspects of the merger of its subsidiary, Delvag Rück, which took place under the provisions of Germany’s Conversion Law. The special challenge facing the legal team was to comply with the requirements of the Solvency II Directive and consequently of the new German Insurance Supervision Act (VAG) during the conversion phase.
The merger will combine Delvag's expertise in direct insurance and reinsurance while boosting the efficiency of its organisational structures, decision-making processes and control mechanisms.
Delvag Versicherungs-AG is the insurer within the Lufthansa Group and a wholly-owned subsidiary of Deutsche Lufthansa AG. As an international risk carrier headquartered in Cologne, the company's primary operations are in aviation insurance, transport insurance and reinsurance.
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Dr Winfried Schnepp, Lead Partner
Dr Petra Schaffner, Partner, Corporate Lead
Dr Alexander Eger, Associate, Corporate
Dr Frank Püttgen, Counsel, Insurance Law Lead
Dr Eva Wolff, Counsel, Insurance Regulation
Dr Matthias Kappus, Partner, Employment