Bär & Karrer Advises CSS on the Sale of its Corporate Business to Zurich
CSS Versicherung AG is selling its corporate business to Zurich Switzerland. Approximately 30,000 customers of CSS Versicherung with policies in the mandatory accident insurance under the Federal Law on Accident Insurance, supplementary accident insurance under the Federal Law on Insurance Contracts, and collective daily sickness benefit insurance under the Federal Law on Insurance Contracts will transfer to Zürich Versicherungs-Gesellschaft AG. Further, 68 employees of CSS will change to Zurich Switzerland. With this transaction, CSS is creating the conditions for focusing on its core business in the future and advancing its position as a health partner. The transaction is subject to approval by the Swiss Financial Market Supervisory Authority (FINMA) and merger control clearance by the Competition Commission (COMCO).
Bär & Karrer acted as legal advisor to CSS. The team included Rolf Watter and Vera Naegeli (both M&A and Regulatory), Markus Wang (IP/IT), Laura Widmer (Employment) as well as Mani Reinert (Competition Law).