The Legal 500

As Spain’s best-known insurance litigation firm, Davies Arnold Cooper LLP fields some of the most highly admired specialists. While the ‘very experienced and always reliable’ Paulino Fajardo heads up the firm’s international insurance and reinsurace group, Pablo Wesolowski and Ignacio Figuerol are also highly acclaimed for their ‘outstanding expertise’ in this field. The practice handles some of the most important professional indemnity cases in the country and also enjoys a pre-eminent practice in high profile product liability. Spanair and its insurers have hired the team as their lead counsel on the criminal case derived from the aircraft accident involving an MD-82 in August 2008, at Barajas Airport, one of last year’s most high profile insurance cases.

Garrigues’ powerful insurance practice is best known for its outstanding track record in corporate insurance transactions. The department is spearheaded by M&A heavyweight Fernando Vives, who leads a team of four partners and 13 associates. The practice is able to advise on the full spectrum of insurance issues, boasting particular expertise in negotiation and implementation of alliance projects between insurance and banking groups (bank-assurance joint ventures). Recent highlights include acting for Zurich in its €750m acquisition of a 50% stake in Bansabadell Vida, Bansabadell Seguros Generales, and Bansabadell Pensiones, Entidad Gestora De Fondos De Pensiones. Other clients include Fortis and Skandia.

Fielding a high profile practice in the insurance sector, Uría Menéndez has been involved in some of the most notable insurance transactions in recent years. Co-managing partner José Maria Segovia Cañadas and Guillermo San Pedro Martinez head up the firm’s 30-lawyer strong department, which has acted for some of Spain’s largest banks and insurance companies. Caja Duero recently instructed the practice in relation to a €130m bancassurance transaction for life and pension plans with Mapfre. Caixa Sabadell also instructed the team in connection with a bancassurance transaction for life, pension plans and general insurance with Zurich. Other major clients include Generali, Caixa Terrassa and Banesto.

Highly regarded in the market for its sound expertise in insurance and re-insurance issues, Albors Galiano Portales is particularly experienced in the shipping and transport sector. The practice has been involved in a broad range of issues from maritime insurance, to protection and indemnity, freight and disbursements and also a variety of non-marine insurance matters. Eduardo Albors, Javier Galiano and Javier Portales are recommended.

At Ashurst LLP, corporate partner Maria José Menéndez is highly praised for her ‘massive expertise in the insurance sector, she has an incredible know-how of the transactional side’. The practice represented Aviva International Holdings on the establishment of a joint venture with Caja de Ahorros de Murcia to provide life assurance services to Spanish customers. Norwich Union also instructed the team on the purchase of the Spanish life insurance company British Life.

Clifford Chance’s recent expertise in the insurance sector includes advising Mapfre, alongside a team of lawyers from its New York office, on the €1.5bn acquisition of the US insurance company Commerce. The firm also acted for Musini, S.A. Seguros y Reaseguros, on several appeals before the Spanish Supreme Court.

Cuatrecasas, Gonçalves Pereira’ well-respected insurance expertise includes representing Mutua Madrileña on ongoing corporate legal advice, and in relation to insurance distribution networks. The practice also provides regular assistance on corporate, regulatory and tax matters to Lombard International Assurance. On the transactional side, AIG Group instructed the team in connection with the sale of 72% of AIG Group to the Swiss bank, EFG Bank. Bancassurance has been another of the firm’s fields of expertise lately, with highlights including representing Caja Navarra on the creation of a bancassurance joint venture with Aegon.

Freshfields Bruckhaus Deringer’s financial services team is co-led by corporate partner Javier Gómez-Acebo, a ‘prodigious lawyer’, and Fernando Bautista, regarded as a ‘sensational and bright finance expert’. Insurance highlights include advising Zurich España in connection with its acquisition of a 50% stake in Can Soluciones Integrales, from Caja de Ahorros y Monte de Piedad de Navarra, to form a joint venture for the distribution and sale of general insurances. Other clients include AIG Europe and Prudential.

Corporate experts Fernando Igartua and Fernando de las Cuevas, as well as finance specialist Ángel Varela are Gómez-Acebo & Pombo Abogados’ most experienced insurance practitioners. De las Cuevas led the practice’s advice to Axa in its merger with Winterthur, a complex transaction which included the total spin-off of Axa’s different business groups in Spain. General Electric Financial Insurance also instructed the team in connection with the implementation and development of the credit card payment protection system in Spain.

Insurance boutique Kennedys fields seven fee-earners, including three partners. Highly admired in this sector, the practice advises on insurance and reinsurance matters, civil liability and directors’ and officers’ liability, as well as representing insurers and reinsurers in relation to public bodies. Highlights include representing the reinsurers in the widely publicised breach of the Aznalcóllar dam. Senior partner Jesus Velez is recommended.

Lovells LLP inaugurated its specialised insurance and reinsurance capability in February 2007, following the recruitment of highly respected insurance expert Joaquín Ruiz Echauri and his team, from Ernst & Young Abogados. The practice has been working with Mapfre’s in-house team, as well as with Mapfre’s Chilean counsel, on a $227m dispute between Mapfre and its reinsurers, rergarding a large claim against the insured company Collahuasi due to a loss on a copper mine in Chile. Other contentious clients include Allianz Global Corporate & Specialty and HDI Hannover.