Clyde & Co advises W&W Group on the acquisition of the insurance portfolio of Neodigital

Adam Riese, the digital brand of Germany’s Württembergische Versicherung AG, has acquired the entire property, casualty, and accident (PCA) insurance portfolio of Neodigital Versicherung AG. At the same time, by entering into a service agreement, Adam Riese secures Neodigital’s technological infrastructure for managing both its own portfolio and the newly acquired one. The partnership takes effect retroactively as of 1 January 2026.

Adam Riese is part of listed W&W Group, a financial services group headquartered in Kornwestheim near Stuttgart. Founded in 2017, Adam Riese counts nearly 500,000 policyholders among its customers. With the acquisition of this insurance portfolio, the number of customers served by W&W Group’s digital brand has now grown to just under 1 million. Württembergische Versicherung acts as the risk carrier for the policies acquired from Neodigital.

Neodigital Versicherung AG is a German digital property and casualty insurer that focuses on the digitalization of processes across the entire insurance value chain. Neodigital, founded in 2017, offers an Insurance-as-a-Service (IaaS) solution that enables other companies and insurance providers to quickly and easily assemble customized insurance products and services using a modular approach and offer them under their own brand.

The transaction is subject to the necessary governmental and regulatory approvals.

Clyde & Co advised W&W Group on the portfolio transfer – including the approval process with BaFin – and the Insurance-as-a-Service agreement with Neodigital. The team was led by Eva-Maria Barbosa (partner, Regulatory/M&A, Munich) and further included Thora Rock (lead counsel, senior associate), Adriaan Louw (counsel), and Lucia Kösters (associate, all M&A, Munich), as well as Jan Spittka (partner) and Yannick Zirnstein (counsel, both Data Protection, Düsseldorf).